Bitcoin Tumbles as Miners Face Crackdown

Bitcoin tumbles as Crypto miners face crackdown from China. Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations. This comes after Beijing intensified a crackdown on bitcoin mining and trading. Beijing intends to hammer digital currencies amid heightened global regulatory scrutiny. This marks the first time China's cabinet has targeted virtual currency mining, which is a sizable business in the world's second-biggest economy. Some estimates say China accounts for as much as 70 percent of the world's crypto supply.

Cryptocurrency exchange Huobi suspended both crypto-mining and some trading services to new clients from China. The plan is that China will instead focus on overseas businesses. BTC.TOP, a crypto m...

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