China arrests 1,100 over cryptocurrency money-laundering

China banned trading in cryptocurrencies in 2019 and is increasingly tightening restrictions on bitcoin mining. – EPA pic, June 10, 2021.

CHINA has arrested more than a thousand people for using the profits from crime to buy cryptocurrencies, security officials said, as part of a growing crackdown on the industry.

The country’s bitcoin mines power nearly 80% of the global trade in cryptocurrencies, although trading in China is banned. 

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