Press "Enter" to skip to content

Bitcoin miners cut Chinese operations amid government crackdown

Cryptocurrency miners in China have scaled back their operations after the government announced it would crack down on the practice, a decision that drove prices down over the weekend.Late on Friday, the State Council’s Financial Stability and Development Committee declared it would crack down on both Bitcoin mining and trading behavior. The claim was part of an effort to prevent and control financial risk across the entire financial industry, among other measures.As a result, Reuters reports miners including HashCow and BTC.TOP have stopped or cut down their crypto-mining operations in the country. HashCow says it will stop buying new mining rigs, while BTC.TOP announced a suspension citing the regulatory risks. Read more…
Source: Apple Insider News and Secrets on New Apple Products

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: