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China Cracks Down on Bitcoin

The Chinese government continues to crack down on cryptocurrencies. 

Editor’s Remarks: Last year, China banned ICOs and stopped basically all cryptocurrency trading on online exchanges. Since then, the government’s regulators have stepped up efforts to curb the rise of Bitcoin and its cousins in order to keep as much of the nation’s economy under close watch as possible. As a consequence, China – the home of most of the world’s Bitcoin miners – is losing its role at the forefront of the cryptocurrency community. However, China has also been running trials for its own prototype digital currency, which will enable the state to take full control of digital transactions.

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