China’s crackdown has intensified since Beijing announced plans to introduce its own cryptocurrency. The digital yuan, expected to be launched in 2022, will be fully backed by the central bank. In a bid to stamp out crypto competition, initial coin offers and crypto exchanges have been banned, and restrictions on power usage by miners imposed.
Sign up for our free newsletter and receive the latest banking and fintech stories, straight to your inbox - every week
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
