China is ramping up its cryptocurrency crackdown.
On Friday, Chinese government agencies declared all cryptocurrency transactions illegal and banned crypto mining across the country, Reuters reports. The People's Bank of China said that the Chinese government would "clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people's properties and maintain economic, financial and social order."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What the chancellor's pension megafund plans mean for your moneyRachel Reeves wants pension schemes to merge and back UK infrastructure – but is it putting your money at risk?
-
Why Māori are protesting in New ZealandA controversial bill has ignited a 'flashpoint in race relations' as opponents claim it will undermine the rights of Indigenous people
-
Crossword: November 21, 2024The Week's daily crossword
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
A new stimulus might (or might not) jump-start China's economyTalking Points Fears of social instability drive rate cuts
-
Why can't China turn its economy around?Today's Big Question The post-pandemic crisis puts pressure on Communist Party leaders
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
