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Cryptocurrencies

'Move to earn' crypto game bans Chinese users, prompts price plunge

Stepn says it is responding 'proactively' amid Beijing's crackdown

Stepn users buy nonfungible tokens (NFTs) that represent digital sneakers in order to play the game, then earn cryptocurrency based on their movement. (Screenshot from STEPN website)

TOKYO -- The idea of earning cryptocurrency just by going for a run has attracted millions of users to an Australian app called Stepn in the past few months -- but the game just got a lot less lucrative.

Cryptocurrencies tied to the game slumped on Friday, after Stepn said it would start blocking Chinese users, citing regulations from Beijing.

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