Chinese crypto players unfazed by Beijing's latest crackdown

Chinese crypto players unfazed by Beijing's latest crackdown

Photo: Internet Archive

China‘s latest salvo against cryptocurrencies has driven a brutal selloff in bitcoin markets but retail traders, miners and even crypto finance firms reckon Beijing’s bark is louder than its bite.

China‘s announcement on Tuesday of a tougher ban on banks and payment companies offering crypto-related services furthered a selloff that briefly wiped $1 trillion off crypto market capitalisation.

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