China Cracks Down Harder on Cryptocurrency With New Ban
Posted on AllSides September 24th, 2021
From The Left
China intensified its crackdown on cryptocurrency on Friday, declaring all financial transactions involving cryptocurrencies illegal and issuing a nationwide ban on cryptocurrency mining, the power-hungry process in which vast computer networks compete for newly created crypto tokens.
Bitcoin, the world’s largest cryptocurrency, dropped as much as 7 percent, to around $41,100, on the news, but recovered somewhat as the day went on.
Some content from this outlet may be limited or behind a paywall.