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China Vows to Continue Strict Crackdown on Crypto Speculation

  • PBOC lists crypto restrictions among priorities next year
  • Bitcoin trading drops to 10% of the global market from 90%
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China reiterated it would continue its crackdown on crypto speculation, according to a statement from the country’s central bank on Friday.

The annual meeting, which is convened by the People’s Bank of China, maps out regulatory priorities for the country’s financial market in the coming year. Heads of local banks, National Internet Finance Association of China, foreign currency settlement and clearing services providers participated a conference call meeting on Tuesday, POBC said in the statement.