China Cracks Down on Illegal Crypto Operations in Sichuan: Arrest 21 & Seizure of $3.9B

Chinese authorities have dismantled illegal cryptocurrency operations in Sichuan, leading to the arrest of 21 individuals and the seizure of approximately $3.9 billion worth of digital assets. This operation comes as part of China’s ongoing efforts to regulate the crypto market following a history of crackdowns on unauthorized trading. The crackdown has sent ripples through the global cryptocurrency market, with investors uncertain of how they will react to such measures. Experts are predicting potential price volatility for leading cryptocurrencies like Bitcoin and Ethereum.