What's New In China's Crackdown On Cryptocurrency: 4-Point Explainer

10 Chinese agencies, including the central bank and banking, securities and foreign exchange regulators, have vowed to work together to root out "illegal" cryptocurrency activity.

China's most powerful regulators have intensified the country's crackdown on cryptocurrencies with a blanket ban on all crypto transactions and crypto mining.

The move sent bitcoin and other major coins lower, as well as pressurising crypto and blockchain-related stocks. 

What's New?

10 Chinese agencies, including the central bank and banking, securities and foreign exchange regulators, have vowed to work together to root out "illegal" cryptocurrency activity.