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Cryptocurrencies

Cryptocurrency miners flee China as clampdown intensifies

G-20 finance chiefs warn against asset-linked 'stablecoins' without official oversight

Much of China's bitcoin mining capacity has shut down in response to tougher restrictions.

TOKYO -- Those in the business of mining cryptocurrencies are rushing to leave China, which had accounted for 60% of global bitcoin mining, as the nation tightens restrictions on such activities.

China, which is already testing a digital yuan, has moved early to rein in other virtual currencies, sparking widespread disruption.

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