![]() Liu is the most senior Chinese official to publicly order a crackdown on bitcoin, and it is the first time the state council has explicitly targeted crypto mining activities.īitcoin prices fell sharply again on the news and are on course for weekly losses of more than 15%, as is Etherium. The statement, which comes just days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, marks a sharp escalation of moves against virtual currencies. ![]() The country will also clamp down on illegal activities in the securities market, and maintain the stability of stock, bond and forex markets, the committee said in a meeting chaired by Vice Premier Liu He. ![]() HONG KONG, May 21 (Reuters) - China will crack down on bitcoin mining and trading activities as part of efforts to fend off financial risks, the State Council's Financial Stability and Development Committee said on Friday. ![]()
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