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Tag: ban china crypto

China Bans Crypto Mining: Chinese Crypto Traders at Loss
China, Crypto & NFT

China Bans Crypto Mining: Chinese Crypto Traders at Loss

On Friday, September 24, 2021, China's most powerful regulators went a step further by issuing a blanket ban on all cryptocurrency transactions and crypto mining, hurting bitcoin and other big coins, squeezing the whole cryptocurrency and blockchain ecosystem influencing the value of major cryptocurrencies. Ten government organizations, including the People's Bank of China and the central bank, together with banking, securities and foreign exchange regulators, have agreed to work together to root out "illegal" cryptocurrency activities for the first time. According to George Zarya, CEO of Bequant crypto exchange in London, China often takes drastic measures with claims of threats or countermeasures but then goes completely radio silent for some time. He openly stated that China would n...
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