China urged to close loopholes in crypto mining ban

Despite China authorities' efforts to clamp down on crypto trading and mining, there are still pockets of the industry using loopholes to continue operating, says state-run paper. — Bloomberg

Chinese authorities must crack down on individuals who are still mining cryptocurrencies and taking advantage of regulatory loopholes, according to the state-run Economic Daily.

Tightened regulations on crypto trading and mining since May have almost eliminated institutional mining within the country, with many miners shutting down or moving overseas, the newspaper affiliated with the State Council said in a commentary Saturday.