Capital Note: China Clobbers Crypto

Erwin Oropesa

Chinese President Xi Jinping on a screen during an event marking the 100th founding anniversary of the Communist Party of China at the Memorial of the First National Congress of the Communist Party of China in Shanghai, China, June 4, 2021. (Aly Song/Reuters)

Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: the EU goes after Google, China clobbers crypto, and the hurdles to Bitcoin as digital gold. To sign up for the Capital Note, follow this link.

EU Google Investigation

A week after France’s $270 million fine against Google for alleged monopolistic practices on its ad platform, the European Commission has announced a formal investigation into the company. The Wall Street Journal reports:

The European Commission, the EU’s top antitrust enforcer, said Tuesday that its investigation, which has been under way informally since at least 2019, will look at a

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