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Chinese crypto activity slows but not dead despite ban

Government curbs seen as 'ineffective or loosely enforced'

China remains East Asia's largest cryptocurrency market (Source photo by Reuters) 

HONG KONG -- Cryptocurrency transactions in China have picked up in recent months despite a ban in September 2021, suggesting that trading restrictions imposed by Beijing have been largely bypassed by determined users.

Following the government crackdown on the industry last year, mainland China recorded a 31% fall in the volume of digital token transactions between July 2021 and June 2022, according to blockchain consultancy group Chainalysis's latest report on East Asia. 

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