The price of STEPN (GMT) has dropped by near 40% following news that the Solana-based Move-to-Earn application will ban users from mainland China. According to a Thursday Twitter post, the ban was implemented in response to “relevant regulatory policies” in the region. It will go into effect on July 15, 2022. (Source: STEPN Twitter ) STEPN recently confirmed that Chinese users only account for around five percent of its total userbase of around three million active users. Hence, the ban on users in mainland China may not have long-term implications for the move-to-earn project. STEPN also noted in the above…