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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.

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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