Bitcoin Falls as China Calls for Crackdown on Crypto Mining, Trading

—Read Here— China recently announced it will be “cracking down” on cryptocurrency mining and trading behaviors

Leaders of the communist nations met including Chinese vice premier Liu He who said:

“We should be more alert and look for potential risks,” according to a statement posted on the website after the meeting. “We should crack down on bitcoin mining and trading activities and prevent individual risks from being passed to the whole society.” 

These announcements have begun to come to fruition as the Chinese government has reportedly set up hotlines that encourage citizens to report any cryptocurrency mining activity to the government, according to Tom’s Hardware.