Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP
Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Why China’s crackdown could signal dark times for cryptocurrencies

  • China’s decision to rein in activity in cryptocurrency markets will be a game changer as other countries are likely to follow its lead
  • Cryptocurrency market volatility made the headlines, but the real story was that policymakers globally are starting to flex their muscles

Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP
Two construction workers use a lift along a wall of bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec, Canada in March 2018. Change is coming to cryptocurrency markets whether the proponents of these digital currencies like it or not. Photo: AFP
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.