China has escalated its anti-cryptocurrency campaign. Sichuan was one of the regions with the most Bitcoin mining projects, which has resulted in a significant surge in cryptocurrency exchanges in the region.
According to earlier studies, China was account for more than 65 percent of Bitcoin mining in 2020.
The majority of people are now confused by China’s volatile relationship with bitcoin.
The financial institution in China recently issued prohibitory orders to the miners that were cooperating with cryptocurrency startups, effectively making it impossible for cryptocurrencies to operate in the state.
In fact, trading platforms and exchanges in China have shut down.
This is not, however, the first time the Chinese government has taken such action.
In the 2017 ICO boom, the ban was implemented. The assault against crypto operations has intensified in recent weeks, and this intensity can be viewed as a reinstatement of the ban.
[embedpost slug=”who-declared-china-malaria-free”]