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China’s latest crypto crackdown is its toughest yet

·3 min read
China’s latest crypto crackdown is its toughest yet

In China, the crypto market has been under constant threat, but it’s never fully been shut down. China’s regulators clarified on Friday (Sept. 24) that cryptocurrency transactions and mining are illegal, the country’s strongest stance against the non-government-issued currencies to date. In a statement, the People’s Bank of China (PBOC) said the rules are necessary to “maintain national security and social stability.”