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More pressure to be put on China’s Crypto-trading

Shortpedia

Content Team
Image Credit: Shortpedia

China's central bank has promised to keep a tight grip on cryptocurrency trading and speculation. The country has been actively cracking down on cryptocurrency trade and mining since May 2021, giving a severe blow to cryptocurrency exchanges, mining companies, and investors. They’re setting a precedent by going after miners, indicating that it will not tolerate any cryptocurrency-related activities and that CBDC is the way of the future.