China Steps Up Crypto Clampdown With Threat of Jail Sentences
- China adopts crypto into its criminal law for the first time
- Illegal fundraising can yield jail terms of over 10 years
China banned Bitcoin in 2013 and has since forced cryptocurrency miners and exchanges to relocate.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
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China expanded its criminal law to encompass fundraising with digital tokens, giving authorities additional firepower to stamp out a sector they declared illegal last year by using heavy sentences.