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Then it banned all domestic crypto mining in June, and finally outlawed cryptocurrencies outright in September. The world's second-largest. A mining executive told CoinDesk that China's ban on crypto mining was a "trillion-dollar present" to the US. This view was mirrored by Michael. China bans banks from crypto transactions. China's hostile stance regarding crypto dates back to Dec. 5, , when the People's Bank of.

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As bitcoin miners go green, China's ban could be a 'trillion-dollar' present to US A mining executive told CoinDesk that China's ban on crypto mining was a "trillion-dollar present" to the US. Check out recent editions. This includes all bitcoin, ethereum and tether transactions. The Chinese government also reported that the trading of virtual currency has contributed to the rise in gambling, fraud, money laundering, pyramid schemes, and other illegal activities. The precursors to China's crypto ban.