Former U.S. President opens up about China’s cryptocurrency politics and losing credibility. Topic of Conversation In between playing golf and asking federal judges in Florida for help to get his Twitter account back, former U.S. President Donald Trump has a busy schedule. He did manage to squeeze in an interview with Adam Shapiro and Yahoo […]
A Renewed Crackdown on Cryptos: Exchanges Sever Ties With China
Crypto exchanges and related service providers are rushing to sever ties with Chinese clients after The People’s Bank of China dubbed all crypto-related activities illegal as the country’s latest crackdown on cryptos unfolds – the broadest yet by any major economy. The Chinese central bank announced on Friday that all digital currency-related services within mainland China are banned and also warned overseas exchanges providing services to Chinese users to end operations in the country.
Bitcoin’s future looks cleaner as carbon emissions from mining are declining
Crypto critics have been making a lot of fuss over the years about the environmental impacts related to the mining of said cryptocurrencies, especially that of the world’s most prominent digital currency, Bitcoin. But new research shows that a large portion of the carbon emissions caused by Bitcoin mining has been reduced quite drastically in the last six months, and it seems the future of cryptocurrency seems a lot “greener” moving forward.
1,100 Arrested in China for crypto-related money laundering and mining
A network of 1,100 people accused of laundering money by purchasing cryptocurrencies have been arrested in China. According to the Chinese Ministry of Public Security, the launderers were charging their clients a commission rate to convert proceeds obtained through illegal activities to cryptocurrency via crypto exchanges without disclosing the amount of money involved.
Bitcoin Mining Industry Seeks Refuge From Chinese Regulators
The crypto community was left in shock after the announcement of China’s latest crackdown on cryptocurrencies, which included not only the ban of financial services related to cryptos and the trading of digital currencies but also the mining of said currencies. China has been the global bitcoin mining hub throughout the years and is responsible for around 65% of all bitcoin mining worldwide, even after the recent ban. But the effects of local regulations are pushing large mining operations out of the country. Several big mining firms have ceased operations in China and are looking to move their operations to regions such as Central Asia and North America.