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China�s Cryptocurrency Crackdown: What�s The Real Reason Behind Beijing�s Move?3 Reasons Why China's Bitcoin Crackdown Isn't All That Bad � 1. Bitcoin is NOT banned in China � 2. Improved mining decentralization � 3. A greener. 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.