China state planner issues notice on crackdown of cryptocurrency mining

Author: Justin Low | Category: Cryptocurrency

China clamps down further on cryptocurrencies

The China state planner says in the notice that it is to strictly prohibit financial support for new cryptocurrency mining projects and that it will not allow said projects to participate in electricity markets.

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This is all part of a broad-scale crackdown in Chinese markets with the earlier warning to high commodity prices here.

Bitcoin lurking a little lower on the headlines here, down 0.7% on the day to $44,400.

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