Bitcoin price crash: Cryptocurrency plummets 6% – Chinese crackdown on blockchain mines | City & Business | Finance

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The world’s most iconic crypto fell around £1,600 from £25,961 at 6.30am to £24,353 at 1.30pm. 

It comes as Xi Jinping’s regime intensifies its crackdown on crypto.

Part of this has involved targeting “crypto mines” in the country which use computational puzzle-solving to create new units of the virtual currency.

It announced the crackdown in May, which sent Bitcoin tumbling from a high of almost £47,000 as wary investors shunned the currency.

This is a breaking news story.

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