China's Cyberspace Administration Acknowledges Bitcoin
With China accounting for 80% of the global bitcoin trading volume, it was only a matter of time before the country's own authorities paid heed to the cryptocurrency. In a recent publication on October 13, the Cyberspace Administration of China (CAC) has, in no uncertain terms, claimed that we have entered the "post-Bitcoin era," and "Can no longer ignore its revolutionary changes" despite people thinking bitcoin and block chain technology is or was not stable. The publication began with the CAC taking note of the deeming of bitcoin as a commodity by the United States Commodity Futures....
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UPDATE: CoinTelegraph has been informed that the annoucement, on which the following article is based, was originally published in People's Daily, the official newspaper of the Chinese Communist Party with the CAC reposting it on their website. So while the article doesn't represent the opinion of the CAC, the People's Daily is a major publication in China, whose main readers are Chinese officials. While many media outlets and financial experts have pointed to the large influx of funds from China to Western bitcoin exchanges as the cause of the recent bitcoin price spike, China’s Internet....
Authorities in the province say crypto mining is inimical to China's environmental conservation efforts. Hebei, a province in Northern China, is the latest jurisdiction in the country to read the riot act to crypto miners and traders.According to Reuters on Tuesday, the province's cyberspace commission has announced plans to curtail cryptocurrency mining and trading activities in the region.The move is in tandem with a broader anti-crypto policy in China that has seen most of the country's cryptocurrency mining establishment forced to relocate overseas.In a statement by the commission....