Bobby Lee, the CEO of Ballet and a maximalist of Bitcoin (BTC), talked about the implications of the ongoing crackdown of China on cryptocurrency. Although the government is supporting the digital renminbi, Lee proposes that Beijing is not interested in expanding the crypto industry. Lee, based on his collaboration with the government of China in…
More bad news for the crypto mining industry in China as another province, this time Anhui, has gone after the industry. Reports suggest that the provincial energy authorities have issued crypto mining shut down notices to mining facilities throughout the province on the pretext that there is an acute shortage of power supply to consumers….
China is doing a massive crackdown on all financial institutions and Banks to stop transactions of digital currency. The Central Bank of China ordered the closure of a company that was believed to be facilitating the bitcoin transactions. This action reaffirms China’s resolve of many years that it will ban bitcoin. China is trying its…
BTC.com has now decided to leave China behind following the local authorities cut of the cryptocurrency mining pool’s power supply. BTC.com is one of the world’s most important cryptocurrency mining pools. BIT Mining operates the pool, and 500.com owns it. 500.com is a Chinese lottery service that is NYSE-listed as well. BTC.com has now made…