The Future Of Crypto In China Gets Bleaker As Over 20 Cryptocurrency Firms Withdraw From The Chinese Market

China’s seriousness with its near blanket ban of all things crypto-related in the country has begun to receive telling reactions from crypto-businesses. According to a report by a local news outlet, as many as 20 virtual currency companies have disclosed that they are ending their operations in China and completely withdrawing from the Asian country […]

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Over 20 crypto firms leave China because of ban

The effect of China’s crypto ban on the country’s digital asset economy is profound as new statistics have revealed that at least 20 crypto-related firms have been forced to either suspend their services to Chinese users or close off their businesses entirely.

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No Hope For Crypto In China As Giant Cryptocurrency Players Exit Region

China’s largest crypto exchange Huobi reveals there’s no hope as it called quits long before the ban It appears that business had become unbearable to continue for China’s leading cryptocurrency exchange as it has been revealed that they had already made a decision to quit the country even before the latest leg of intensified crypto-industry […]

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Bitmain will no longer ship Bitcoin mining equipment to China

Chinese Cryptocurrency mining equipment manufacturer, Bitmain will be taking its business outside China following the crypto ban in the country. The company announced this through a blog post on SundaThe post Bitmain will no longer ship Bitcoin mining equipment to China appeared first on AMBCrypto.

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China considers proclaiming crypto mining as a ‘negative industry’

China has been trying to eliminate cryptocurrencies from its country for years now, and in 2021, it finally came to cracking down on crypto miners. Throughout the year, one province after another started making mining impossible, forcing those engaging in this aspect of the crypto industry to close down shop and move — either to […] The post China considers proclaiming crypto mining as a ‘negative industry’ appeared first on Invezz.

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China’s National Development & Reform Commission Adds Crypto Mining to Outdated Industry

About two dozen cryptocurrency firms have fled the country after PBOC explicitly warned foreign platforms about providing services to its citizens, calling them illegal financial activities. The post China’s National Development & Reform Commission Adds Crypto Mining to Outdated Industry first appeared on BitcoinExchangeGuide.

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Crypto exchange Binance sets up three Irish entities after global regulatory tussle

With the regulatory clampdown against crypto trading still in full effect in China, Binance, the biggest crypto exchange in the world by trading volume, has moved to cement its operations in another country, Ireland.

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Relocated Chinese miners in Kyrgyzstan will now pay more for electricity

After China banned mining in the country earlier this year, the Kyrgyz Republic had become one of the hotspots for the mining pools. The Kyrgyzstan government, however, recently issued a notice to The post Relocated Chinese miners in Kyrgyzstan will now pay more for electricity appeared first on AMBCrypto.

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Coping with the China FUD - Bitcoin and the Huobi story

China's recent crypto-ban may not have drastically crashed Bitcoin, but it is certainly affecting certain businesses in the country. After China's central bank declared that offering trading, order maThe post Coping with the China FUD - Bitcoin and the Huobi story appeared first on AMBCrypto.

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China: 4th Largest Ethereum Mining Pool to Shutter Its Operations Amid Rising Regulatory Concerns

Chinese regulatory crackdown on crypto continues to force crypto miners to leave the country for greener pastures elsewhere. BeePool Shutters Ethereum Mining Operations BeePool, a China-based Ethereum (ETH) mining pool that also holds the distinction of being the world’s 4th largest ETH mining pool in terms of hashrate recently announced it was shuttering its operationsRead More

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The Real Reason Why China Is Strongly Against Bitcoin

Key takeaways China imposes new restrictive rules on Bitcoin, but market observers consider it a good thing. Forbes contributor asserts says the new ban stems from the country’s fears of its citizens growing economic freedom.

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Indonesia Will Not Follow China’s Path For An Outright Crypto Ban, Says Minister Of Trade

Indonesia’s Minister of Trade has stated that the country will not give a blanket ban on cryptocurrencies like China. Indonesia has recorded a spike in cryptocurrency transactions since the start of the year and shows no signs of slowing down.

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Bitmain to move mining equipment production outside of China

The world's leading mining equipment manufacturer Bitmain allegedly halts sales in China and plans to relocate production outside of China after the country's cryptocurrency and mining bans.

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China’s Crackdown Hits Ethereum Hard As Authorities Shut Down Over 10,000 Mining Rigs

Ethereum is the most recent asset caught in the path of the bulldozing machine that is China’s crackdown on crypto and crypto-related activities. When the country had begun to crackdown on mining earlier in the year, much focus had been placed on bitcoin given that it was the most popular cryptocurrency in the market. And […]

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Crypto Platforms Start Pulling Out Of China Following The Ban

One by one crypto exchanges and other related platforms are starting to announce exit plans from the Chinese market following the nation’s ban. Crypto Platforms Like Biki, Feixiaohao, And BitMart Pull Out Of China Following The Nation’s Ban A few days back, China announced a ban on all crypto-related transactions in the country. As a […]

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China crypto crackdown: 10,100 mining rigs confiscated in Mongolia

The Chinese government has intensified its efforts to ban cryptocurrency mining and trading in the country. China’s National Development and Reform Commission seized 10,100 crypto mining equipments from a government-operated tech park in Inner Mongolia as it continues its operations against miners in the region.

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Here’s why the US should buy Bitcoin as strategic reserve

China’s ban on crypto has manifested itself in making cryptocurrency transactions illegal, making miners leave the country, and blocking access to sites with information about crypto prices and charts.

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China Blocks Crypto-Related Websites Amid Heightened Crackdown Measures

China is going even further into cracking down on cryptocurrencies in the country. It has decided to block access to CoinGecko, TradingView, and CoinMarketCap through its internet firewall. The three websites are major cryptocurrency-related websites.

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Crypto Market Analysis: September 27, 2021

Crypto markets were rocked on Friday as it emerged that China was implementing a full ban on cryptoasset trading inside the country. Despite it having announced the ban previously, markets reacted badly with big falls in BTC and other altcoins.

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Authorities seize over 10,000 crypto mining machines in Inner Mongolia, China

China’s series of crackdowns on Bitcoin mining keeps making headlines within the crypto community. Parts of the country like Anhui and the Yunan Province announced their intention to crackdown on BiThe post Authorities seize over 10,000 crypto mining machines in Inner Mongolia, China appeared first on AMBCrypto.

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Here's how crypto-businesses in China are dealing with the ban

The cryptocurrency market has been moving into a downward spiral as the price of the largest cryptocurrency plunged, following China's announcement about the state of cryptocurrencies in the country.

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Huobi suspends registration of new users to comply with regulations in China

China did it again. Same old news but the market was blown away like a leaf on a windy day. The country maintained its anti-crypto stance, which in turn compelled Huobi, one of the largest cryptocurreThe post Huobi suspends registration of new users to comply with regulations in China appeared first on AMBCrypto.

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Bitcoin Blitzed $20,000 Record High Three Months After China Crypto Ban In September 2017; D

China’s top government authorities are not yet done with bitcoin. Earlier today, the regulators published a statement declaring that trading and mining digital currencies are now strictly prohibited within the country.

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Dogecoin Price Drops Almost 10% Following China’s Crypto Ban

Dogecoin’s price has dropped almost 10% following China’s statement that crypto transactions and services are illegal in the nation. As China Declares Crypto Transactions Illegal, Dogecoin Plunges Almost 10% According to a report from Bloomberg, China’s central bank has put out a statement saying that all crypto transactions and services are illegal in the country.

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The People’s Bank of China Bans Bitcoin, Again

The People’s Bank of China reposted a memo from September 15th that addresses the country's Bitcoin ban to their website, causing widespread Bitcoin selling and a Friday morning price dip.

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Bitcoin drops 5% as China proclaims all crypto transactions completely illegal

For years now, China has had a difficult relationship with the crypto industry. In time, however, that relationship started getting worse and worse, especially now as the country is about to release its own cryptocurrency on a nationwide scale.

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Bitcoin Banning China Keeps NFT-ing

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China’s Central Bank says Crypto Crackdown Completed and Now Back to Normal Supervision

“The battle to prevent and resolve major financial risks has achieved important phased results,” reads the translated version of the China Financial Stability Report 2021 from the country’s central bank.

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Does The Market Really Care About China’s Anti-Crypto Crackdown?

China’s sustained cryptocurrency crackdown has been intensified in recent months, sparking a major FUD amongst investors. A closer look into the details reveal that the crypto market is choosing to ignore the unsavory headlines from the most populous country in the world.

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Singapore selected 15 companies to participate in creating its CBDC

The race to issue CBDCs is still ongoing, with central banks around the world participating. Of course, not every country has joined the race, but enough of them for it to truly feel like global competition, with China still in the lead.

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China’s Digital Yuan Used for Payment in Country’s Financial Markets

China’s Dalian Commodity Exchange has successfully used the digital yuan for fees settlement in the nation’s futures market, making it the first real application of the People’s Bank of China (PBoC) issued digital currency in the finance sector, according to a report by China Securities News Network on August 23, 2021.

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China’s “Great Mining Migration” Leads Cryptocurrency Firms To Relocate

The recent move from China to crack down on cryptocurrency mining caused Bit Digital Inc to change its plan. Instead, the Nasdaq listed company intensified its efforts of acquiring over 20,000 computer systems from another country.

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China’s high court proclaims that crypto is not protected by law

China has been making a lot of headlines in regards to the crypto industry this year, and more often than not, not for good reasons. The country has seen a number of its provinces crackdown on cryptocurrency mining, causing the miners to abandon their posts and seek out cheap electricity in other provinces, countries, and […] The post China’s high court proclaims that crypto is not protected by law appeared first on Invezz.

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Jamaica’s Central Bank Begins Minting Country’s Digital Currency (CBDC)

Central Bank Digital Currencies (CBDCs) have become a hot topic in the last year, with Asian giant China leading the charge. However, Caribbean nation Jamaica is now at the forefront following its roll-out of its first wholesale digital currency in a recently concluded ceremony.

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Could The New “China Model” Be The Reason The Country Banned Bitcoin Mining?

What is the new “China Model”? And why would that country ban an industry that made them the ultimate leaders in the most important development in recent times? The world is still scratching its head.

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China Reemphasizes It’s Not Yet Done Clamping Down On Bitcoin

China received a lot of backlash for its decision to scrap Bitcoin miners from the country. Miners who were forced to relocate swiftly managed to set up their equipment in a new environment and have since been on the journey of recovery.

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China’s Central Bank Vows to Keep a Close Eye on Crypto Trading

The Chinese central bank vows to keep high regulatory pressure on crypto trading in the country. PBoC to Continue Monitoring Crypto Trading The People’s Bank of China recently published the key takeaways of a meeting where the regulators discussed at length the progress on monetary policy in the first half of 2021 and the stepsRead More

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What you should know about Paraguay's push to welcome Bitcoin miners

Of late, Paraguay seems to be offering Bitcoin miners exactly what they need and thus, it has emerged as the latest country many miners are migrating to. China - Not the powerhouse anymore? China's The post What you should know about Paraguay's push to welcome Bitcoin miners appeared first on AMBCrypto.

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Why did Huobi file 'resolution to dissolve' its entity in China

The stringent crackdown on cryptocurrency businesses and mining in China has led the prominent cryptocurrency exchange, Huobi to shut down its subsidiary functioning in the country. According to the pThe post Why did Huobi file 'resolution to dissolve' its entity in China appeared first on AMBCrypto.

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Bitcoin: These 3 metrics are important to keep track of

Bitcoin and its network’s hash rate took a huge blow when China “banned” mining in the country. This decision’s impact could be long-lasting and while it did affect the investors, it was the mThe post Bitcoin: These 3 metrics are important to keep track of appeared first on AMBCrypto.

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China’s Economy Has Plateaued Says Bloomberg Analyst

“China’s rejection of open-source software crypto-assets may mark a plateau in the country’s economic ascent, we believe,” says Mike McGlone, a Senior Commodity Strategist at Bloomberg Intelligence. Hedge fund manager...

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Bitcoin Rejection by China May Bring Country’s Economic Rise to a Halt: Bloomberg’s Mike McGlone

Bloomberg's leading expert in commodities reckons that by rejecting Bitcoin and other crypto assets, China may put its own economic rise on hold

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What this metric means for Bitcoin's capitulation concerns

Bitcoin is more than just a cryptocurrency and a store of value asset. For a lot of people, it is their regular source of income. When China 'banned' mining operations in the country, its repercussionThe post What this metric means for Bitcoin's capitulation concerns appeared first on AMBCrypto.

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Drivers of Equities in China, Emerging Markets

The outperformance of China's shares over those of other emerging markets can be traced to the country's exceptional growth the past few decades.

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China Debuts Digital Yuan Pilot For Insurance Policies

As part of China’s efforts to expand the scope of its upcoming central bank digital currency (CBDC) project, the city of Shenzhen has issued the country’s first digital yuan insurance policy.

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China Offers Medics Digital Yuan Insurance Policy for Covid-19

China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An.

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China considers exploring e-CNY for cross-border payments

China will be taking another step forward in its mission to launch the country's digital e-currency. As per a recent report which cites the PBoC, the country will be exploring possibilities pertainingThe post China considers exploring e-CNY for cross-border payments appeared first on AMBCrypto.

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Three More Chinese Provinces Join National Clampdown on Crypto Mining Activities

The current crackdown on mining activities in China appears to be gaining steam.  Three provinces Henan, Gansu, and Anhui, have joined the nationwide crackdown on crypto farms.  Henan, Gansu, and Anhui to Crack Down on Mining Activities Local news outlets have reported different reports on the crackdown on crypto mining activities within the country. HeifiRead More

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China’s Anhui province begins its clampdown on Bitcoin (BTC) mining

Eastern China’s Anhui province became the latest regional county to ban Bitcoin mining in the country, weeks after the government unleashed a harsh plan to stamp out the activity in the nation, reported news outlet Reuters this morning.

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