China’s cryptocurrency holdouts test the boundaries of Xi’s crackdown

This summer, word started spreading over Chinese social media about a conference in Dali, a city nestled among 4,000-meter peaks in the country’s southwest.

The organizers expected fewer than 200 attendees, but ended up selling out the 1,000-person venue only to see more than double that number ultimately show up for the August event. The topic of the gathering: cryptocurrencies, a sector China’s government declared largely illegal a year ago.

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