China Embraces Blockchain But Cracks Down On Bitcoin

Briefing: China Embraces Blockchain But Cracks Down On Bitcoin

China’s embrace of the blockchain technology used in cryptocurrencies has underpinned a rally in bitcoin, the most famous crypto coin. But now, a renewed crackdown by Chinese authorities on bitcoin trading has led to declining prices.In the latest wrinkle, rumors circulated about a police raid of the China offices of Binance, which runs one of the largest crypto currency exchanges, according to Bloomberg.