Not much moves cryptocurrency markets like Elon Musk tweets -- except, perhaps, the idea of another crackdown in China, the world’s second-largest economy. From a trading ban on domestic exchanges to squeezes on power-consuming digital currency miners, Chinese regulators have tried to tamp down risks related to the stratospheric rise of Bitcoin and its peers for years. However, a recent spate of official warnings has unnerved traders anew, even though some appear to reiterate previous positions. While the statements can be tough to decipher, they seem to indicate that China is watching crypto closely and could take further steps to rein it in as President Xi Jinping seeks to reduce financial risk in the economy and meet the country’s ambitious goals for combating climate change.
This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform.