SHANGHAI: Cryptocurrency mining operators, including a Huobi Mall and BTC.TOP, are suspending their China operations after Beijing stepped up its efforts to crack down on bitcoin mining and trading, sending the digital currency tumbling.
A state council committee led by vice premier Liu He announced the crackdown late on Friday – the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70% of the world’s crypto supply.
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