September 24, 2021

Chinese regulators outlaw crypto in latest crackdown

Featuring Jordan Schneider

Source: Axios

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.

Authors

  • Jordan Schneider

    Adjunct Fellow, Technology and National Security Program

    Jordan Schneider is a China technology analyst at The Rhodium Group, as well as the host of the ChinaTalk podcast and newsletter. He previously worked for Bridgewater and the ...