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NFT App Blocks Users in China, Sending Digital Tokens Plunging Nine months after officially declaring all cryptocurrency transactions illegal, China still has the power to roil digital assets.

May 31, 2022
Source: techstory.in techstory.in
News Snapshot:
Even nine months after China declared that all cryptocurrency transactions are forbidden, the nation can roil the markets for digital assets. GST, a token linked to the “move-to-earn” fitness app STEPN, fell by approximately 10% after the app’s operator said on Thursday that Chinese users would be effectively barred from using the program beginning July 15. According to CoinGecko data, GMT, a cryptocurrency-related application, had a thirty percent decrease before starting to rebound. To acquire virtual shoes that may be used to earn GMT or GST coins via activities such as walking or jogging, non-interchangeable tokens are needed. STEPN can...
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Tags: analytics | app | bitcoin | blockchain | Business | capital | China | Chinese | crypto | cryptocurrency | currency | data | digital | download | fintech | GPS | green | illegal | Internet | Internet Protocol | investment | Shoes | technology | Twitter | United States

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