China seems to be imposing stricter censorship toward decentralized crypto trading day by day. Many of its recent actions show the country’s stance against crypto trading and Bitcoin in particular.
Beginning with its crackdowns on miners in the country, all the way to its blatant blocking of leading exchange websites online, China is turning out to be no friend to crypto.
On 9 June, a western Xinjiang district government issued a notice “to immediately suspend virtual currency mining enterprises”. The report announced that companies mining digital currency must stop production by 2 PM on the same day. They must also report the suspension to a local reform commission.
The sudden announcement resulted in major drops in global hashing power. Just the Chinese-backed Ant Pool (NASDAQ:POOL) dropped by more than 30%. It …
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Source: Cryptocurrency - investing.com
