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September 24, 2021
Chinese regulators outlaw crypto in latest crackdown
Journalist Courtenay Brown
Regulators in China are tightening their grip on industries at a dizzying pace — ratcheting up pressure that’s spared few sectors.
Driving the news: The country’s most powerful regulators banded together for the first time to outlaw all cryptocurrency activity on Friday, Reuters reports — intensifying its years-long war.
One reason for the move: To stamp out competition to its own digital currency before a potential rollout next year, Nikkei Asia reports.
Read the full story and more from Axios.