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Chinese authorities issue stark reminder that crypto activities are banned in the country following cases of fundraising scams.
China’s underground crypto market is booming, as investors ditch stocks for digital assets.
A recent judicial declaration in China hints at a potential shift in the country's stance on cryptocurrencies.
The proposed overhaul of the financial sector will consolidate oversight of financial institutions under a new state administration.
The top crypto mining cities are Sichuan city with 42.59% and Xinjiang at 32.25%
The Chinese ban continues to gain momentum this year, leading to a sharp crash in the price of cryptocurrencies in
Chinese nationals working for crypto companies are deemed to be engaging in illegal activity, per the new document.
Crypto financial activities will be deemed illegal, including services from off-shore exchange accounts.
China has taken several steps, and made several pronouncements, to try and outlaw cryptocurrencies.
The Chinese hashrate dropped by 50% in the past month as miners seek to relocate their business.
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