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2021.05.25

Strengthening the crackdown on crypto assets in China, three things you need to know

Following a warning from the State Council that it may crack down on crypto asset mining due to environmental concerns, Chinese miners are rushing to seek a place to operate mining equipment overseas. We’ve been in talks with Chinese minors trying to share the site in the US over the weekend since the 21st, “said Seattle mining company Luxor COO Ethan Vera. “All Chinese miners I know have been contacted. Asking for prices or asking for a quote.” Chinese officials have not announced specific plans to implement the crackdown, but some Major crypto asset mining companies have already taken steps to notify. Cryptocurrency exchange Fobi has suspended minor hosting services in mainland China. Cryptocurrency mining pool BTC.TOP has announced that it will suspend operations in China and HashCow will suspend the purchase of new equipment.

https://www.coindesk.com/3-things-you-need-to-know-about-chinas-crypto-crackdown

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