Technology

China shuts down crypto miners and issues new restrictions

China is still weakening the crypto market on its own Forced widespread closure of mining operations Nationwide, it leads to lower network hash rates for both Bitcoin and Ethereum. In fact, according to China’s Global Times, 90% of Bitcoin’s mining capacity is closed in some states.Coin desk report The People’s Bank of China (PBOC) has issued new restrictions prohibiting banks from providing services that facilitate transactions, including cryptocurrencies. Not surprisingly, the value of both Bitcoin and Ethereum plummeted in today’s trading.

Translated version of PBOC statement “The speculative activity of cryptocurrency trading disrupts the normal economic and financial order, creates risks of illegal and criminal activities such as illegal cross-border asset transfers and money laundering, and seriously secures people’s property. Infringe. “

https://www.tomshardware.com/uk/news/bitcoin-prices-fall-china-mine-closures China shuts down crypto miners and issues new restrictions

Back to top button