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      tldr; China’s central bank, the People’s Bank of China (PBoC), has reaffirmed its strict stance on cryptocurrency, declaring all crypto-related transactions illegal and reiterating that cryptocurrencies lack legal tender status. The PBoC convened a high-level meeting with government ministries and regulators to address crypto speculation and illegal activities. Despite calls to reconsider the Bitcoin mining ban, experts believe China is unlikely to relax its restrictions due to its economic and environmental goals.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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