Bitcoin crashes 12% as China repeats its mining pressure

Bitcoin saw the second drop from China in a week. This time around, the Chinese finance committee added Bitcoin mining as an important sector to be monitored in order to "prevent and decisively manage financial risk". The report includes a long list of other activities other than Bitcoin mining, including reforming small and medium-sized financial institutions, mitigating the effects of illegal securities activity, and "effectively responding to inflation. Import". Despite the broad nature of the report, Bitcoin dropped 12%. Similar news on Wednesday lowered the major cryptocurrency to $ 30,000, when a group of three payment and finance associations reiterated the central bank's first ban from 2017. , China Banking Association and China Payment and Clearing Association. This story is under development, please check for updates

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