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Caixin

China delivers double blow to cryptocurrencies

Clampdown hits digital miners who in 2019 used more electricity than Argentina

China has long taken a negative view of cryptocurrencies amid concerns over potential risks to the domestic financial system.   © Reuters
HU YUE and GUO YINGZHE, Caixin | China

The cryptocurrency universe has been hit by two dollops of bad news this week as authorities in the world's biggest bitcoin mining nation intensified a crackdown on the digital asset.

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