The summer of regulatory action has now become a global phenomenon. Lawmakers and politicians are waving their fingers and making threats toward the industrys leading virtual asset service providers a term coined by the FATF to describe exchanges, wallets, custodians and even DeFi platforms.
But when it comes to crackdowns on cryptocurrency, few places do it with the effectiveness and experience of the Chinese government.
What’s the issue this time around?
Although Chinese miners were raking in money, it wasn’t anywhere near enough to stave off regulation from the government (data from June 2021)
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