Bitcoin tumbles 11% after China reiterates call for a mining and trading crackdown
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Bitcoin turned sharply lower Friday following reports that China has reiterated its call to restrict mining and trading activities surrounding the world's largest cryptocurrency.
China has previously pledged to crack down on mining operations in a bid to reduce carbon emissions. This week, the government in China's Inner Mongolia Autonomous Region said it had set up a hotline, email, and mail address for the general public to report any outlying crypto-mining operations that are still active in the region.
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