🚨 China’s Crypto Clampdown Intensifies 🚨

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China’s central bank and regulators have reinforced a strict ban on crypto trading, mining and related services, labeling all virtual‑currency operations as illegal financial activities and targeting stablecoins as systemic risks. Recent enforcement has led to an 8 % drop in Bitcoin hashrate after Xinjiang miner shutdowns, even as underground mining quietly resurfaces.$ETH

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