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CHINA IS CRASHING! MONEY FLOWING INTO BITCOIN!China's cryptocurrency mining sector becomes target of fresh clampdown crypto mining industry in China were not as bad as many believed. He. GUANGZHOU, China � Chinese bitcoin traders continue to thrive despite Beijing's four-year crackdown on cryptocurrencies, experts told CNBC. Chinese crypto activity slows but not dead despite ban. Government curbs seen as 'ineffective While China's crackdown on cryptocurrency aims.