China's Latest Bitcoin "Ban" Is Impacting Mining, Exchange Landscape
The latest efforts in China to regulate Bitcoin seems to be having a significant effect on mining and exchange businesses.Last week, news surfaced that China had banned financial institutions in the country from offering Bitcoin services and that it will be cracking down on mining. Many in the Bitcoin community (this publication included) met the news with rolling eyes — China has historically “banned” its businesses from using Bitcoin many times with little impact and it’s also not technically possible to outright ban Bitcoin from personal use.However, it’s clear that this latest....
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China announced last week that financial institutions in the country would no longer be able to sell Bitcoin services, and that mining would be prohibited. Many in the Bitcoin community, including this paper, reacted with skepticism to the news, noting that China has previously “banned” its companies from using Bitcoin with little effect, and that […]
PRESS RELEASE. Since May 30, the BTC mining difficulty has lowered for 4 times in a row. The mining rig migration is continuing, leading to a surge of incomes in mining farms outside China. With early layout of mining farms outside China, BitFuFu takes the lead to restart running plan and restock new mining plans. As the first cloud mining platform that restarts running plan in the industry, BitFuFu provides users with a mining feast from a drop of difficulty. Early move makes BitFuFu the industry-first platform to restart running plan Thanks to its forward-looking layout in the mining....
China has once again reinforced its position on cryptocurrencies. Even though crypto mining is illegal in the country, some have chosen to operate illegally. To this effect, China has added crypto-mining to the ‘negative list’ of industries. This latest effort means that investors can no longer invest in the crypto mining sector. A document released […]