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Crackdown on cryptocurrency

China is opening a new front in its battle against cryptocurrencies, targeting platforms that allow the nation's investors to trade digital assets on overseas exchanges, people familiar with the matter said. Regulators are planning to scrutinize Chinese bank and online-payment accounts of businesses and individuals suspected of facilitating trades in offshore cryptocurrency venues, the people said, asking not to be identified because the information is private. The accounts' owners could have their assets frozen or be blocked from the domestic financial system, the people said.

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