An ICYMI on China’s State Council renewed crack down on crypto mining, trading
24 May 2021
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If you missed the news from Friday, re-upping it here for background to the weekend slide on Bitcoin and other cryptocurrencies.
Vice Premier Liu He (remember him from the trade negotiations with the US during the Trump admin?) chairs China’s State Council’s Financial Stability and Development Committee.
The statement from the Committee was blunt (check out the link above where Adam provided the translation into … Canadian (… tee hee)):
- crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field.
Over the weekend Elon Musk tweeted on crypto also:
I guess the scoreboard reads:
- China’s Vice Premier Liu He 1 : Elon Musk 0
Also out of China over the weekend: