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China Stepping Up Cryptocurrency Crackdown

China is preparing for a new crackdown on cryptocurrency, planning to stamp out remaining trading in the country, according to state media. From the AFP report via Channel NewsAsia: “China will gradually clean up over-the-counter trading platforms, peer-to-peer networks where large exchanges occur and firms registered in the country which allow Chinese to trade overseas, the state-run Securities Journal said Tuesday. The publication cited an anonymous source close to regulators tackling online finance risks. The new plan follows China’s crackdown on cryptocurrency trading last year, which saw Beijing shut down bitcoin exchanges and ban all initial coin offerings.”

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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