China's Cryptocurrency Ban: Part of a Growing Trend Towards Greater State Control
What Happened?
China's National Development and Reform Council (NDRC) announced a nationwide crackdown on cryptocurrency mining and trading, effectively banning all cryptocurrency-related activities within the country.
Why It Matters
This move is part of a broader trend in Chinese economic policy towards greater state control, as the government seeks to reduce financial risks and maintain its authority over the economy.
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