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3 Stocks to Avoid After China Intensifies Cryptocurrency Crackdown

October 1, 2021
Source: stocknews.com stocknews.com
News Snapshot:
Amid fading investor interest in cryptocurrency, China’s central bank recently declared all cryptocurrency-related activities illegal . After the intensified crackdown, the most popular cryptocurrency, bitcoin, lost 5% on Friday , and the second-largest virtual currency, Ether, declined 7%. Earlier this year, China announced a crackdown on crypto mining. The major actions against cryptocurrencies taken by China accounted for about 47% of all crypto mining in April . Due to these concerns, shares of companies significantly exposed to digital currencies might see a pullback in the near term. That is why Stocks such as Riot Blockchain, Inc. ( RIOT ), Canaan...
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Tags: America | bank | bitcoin | blockchain | China | crypto | currency | Economy | expansion | finance | fintech | Gadgets & Electronics | Hangzhou | investment | North America | revenue | semiconductor | Shanghai | Software | stock market | stocks | technology | United States | USA | Zhejiang

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