A slew of crypto-related accounts in China’s Twitter-like Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining
Representations of Bitcoin cryptocurrency are seen in front of an image of Chinese flags in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration
More actions are expected, including linking illegal crypto activities in China more directly with the country's criminal law, according to analysts and a financial regulator., escalating a campaign against cryptocurrencies days after three industry bodies banned crypto-related financial and payment services.
"It's a Judgment Day for crypto KOL", wrote a Weibo bitcoin commentator, or key opinion leader , who calls herself "Woman Dr. bitcoin mini." Her main account was also blocked on Saturday. Ma, author of the book "The Digital War", also expects China's supreme court to publish a judicial interpretation soon that may link crypto mining and trading businesses with China's body of criminal law.
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