China tells banks to stop supporting cryptocurrency



China has expanded its clampdown on cryptocurrencies, telling banks and payments platforms to stop supporting digital currency transactions.

That follows an order on Friday to shut down Bitcoin mining operations in Sichuan province.

The price of Bitcoin slumped by more 10% on Monday but stabilised in Asian trading on Tuesday.

The value of the cryptocurrency has fallen by around 50% since hitting a record high above $63,000 in April.


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