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EnglishI don't buy that China banned Bitcoin/mining operations. Do you have a detailed map showing the numerous locations that have been shut down?

Also, are they still selling ASIC equipment to the rest of the world? Seems hypocritical... Answer only if you know what I am asking. Else answer will be ignored and reported to admin.

bchsolo1 1 month ago
    Tags:
  • Bitcoin
  • Mining
  • China
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jason 1 month ago
Numerous Bitcoin mines in Southwest China's Sichuan Province - one of China's biggest digital currency mining bases - were shut as of Sunday, as per after neighborhood specialists requested an end to mining in the district on Friday in the midst of a heightened cross country crackdown against cryptographic money mining.
Saltatios 1 month ago
Even Hongkong is important in Mining Visions
rajeev 1 month ago
Many Bitcoin mines in Southwest China's Sichuan Province - one of China's largest cryptocurrency mining bases - were closed as of Sunday, according to after local authorities ordered a halt to mining in the region on Friday amid an intensified nationwide crackdown against cryptocurrency mining.
The Sichuan Provincial Development and Reform Commission and the Sichuan Energy Bureau issued a joint notice on Friday, ordering local electricity companies to "screen, clean up and terminate" mining operations by Sunday.
The notice listed 26 firms that had been inspected and reported as potential cryptocurrency mining enterprises, including Heishui Kedi Big Data Tech Co and Kangding Guorong Tech Co.
The notice also ordered local electricity companies to immediately stop supplying power to crypto mining projects they have detected, and conduct self-inspection and rectification, and report their results by Friday. Also, it banned local authorities from approving new mining projects.
"We had hoped that Sichuan would be an exception during the clampdown as there is an electricity glut there in the rainy season. But Chinese regulators are now taking a uniform approach, which would overhaul and rein in the booming Bitcoin mining industry in China," Shentu Qingchun, CEO of Shenzhen-based blockchain company BankLedger, told the Global Times on Sunday.
Chinese companies-backed Bitcoin mining pools, such as Huobi Pool, Binance and AntPool, have experienced a 20 percent to 40 percent plunge in their real-time hash rates within the past 24 hours, according to media reports.
Northwest China's Xinjiang Uygur Autonomous Region, North China's Inner Mongolia Autonomous Region and Southwest China's Yunnan Province have all announced rules curbing Bitcoin mining.
He added that the price of mining machines could take a dive in the short term, as many crypto miners would dump the processing equipment, but market willingness to digest the oversupply would remain lukewarm. That would also "hammer" upstream supplies.Wang Peng, an assistant professor at the Gaoling School of Artificial Intelligence at the Renmin University of China, told the Global Times on Sunday that the Chinese authorities' move is in line with global financial regulators' tightened scrutiny of digital currency trading, to prevent systemic financial risks and illegal activities such as money laundering.
In May, senior Chinese officials said that it is necessary to crack down on Bitcoin mining and trading, and resolutely prevent the transmission of individual risks to the wider society.
Burak turan 4 weeks ago
https://www.fundapps.co/regulations/asic-short-positions-reporting?utm_campaign=Regulation%20Pages&utm_source=ppc&utm_campaign=Australia&utm_source=adwords&utm_medium=ppc&utm_term=asic&hsa_ad=523993235880&hsa_kw=asic&hsa_cam=13260986333&hsa_grp=124483518444&hsa_tgt=kwd-10035136&hsa_acc=5689620953&hsa_mt=b&hsa_net=adwords&hsa_ver=3&hsa_src=g&gclid=CjwKCAjwrPCGBhALEiwAUl9X09TDrJMiwCDKK-rRtCbjsdoyTL1vH8mdFvdzuhD4RNArI6QPjbjuqBoCLOsQAvD_BwE From the site that says bitcoin is still not banned in china, i still live there, there is asic equipment all over the world
fronjoo 3 weeks ago
https://yazing.com/deals/blockfi/FataiIsiaq that is it check it out
Arockiya Shamili 3 weeks ago
Many Bitcoin mines in Southwest China's Sichuan Province - one of China's largest cryptocurrency mining bases - were closed as of Sunday, according to after local authorities ordered a halt to mining in the region on Friday amid an intensified nationwide crackdown against cryptocurrency mining. The Sichuan Provincial Development and Reform Commission and the Sichuan Energy Bureau issued a joint notice on Friday, ordering local electricity companies to "screen, clean up and terminate" mining operations by Sunday. The notice listed 26 firms that had been inspected and reported as potential cryptocurrency mining enterprises, including Heishui Kedi Big Data Tech Co and Kangding Guorong Tech Co. The notice also ordered local electricity companies to immediately stop supplying power to crypto mining projects they have detected, and conduct self-inspection and rectification, and report their results by Friday. Also, it banned local authorities from approving new mining projects. "We had hoped that Sichuan would be an exception during the clampdown as there is an electricity glut there in the rainy season. But Chinese regulators are now taking a uniform approach, which would overhaul and rein in the booming Bitcoin mining industry in China," Shentu Qingchun, CEO of Shenzhen-based blockchain company BankLedger, told the Global Times on Sunday. Chinese companies-backed Bitcoin mining pools, such as Huobi Pool, Binance and AntPool, have experienced a 20 percent to 40 percent plunge in their real-time hash rates within the past 24 hours, according to media reports. Northwest China's Xinjiang Uygur Autonomous Region, North China's Inner Mongolia Autonomous Region and Southwest China's Yunnan Province have all announced rules curbing Bitcoin mining. He added that the price of mining machines could take a dive in the short term, as many crypto miners would dump the processing equipment, but market willingness to digest the oversupply would remain lukewarm. That would also "hammer" upstream supplies.Wang Peng, an assistant professor at the Gaoling School of Artificial Intelligence at the Renmin University of China, told the Global Times on Sunday that the Chinese authorities' move is in line with global financial regulators' tightened scrutiny of digital currency trading, to prevent systemic financial risks and illegal activities such as money laundering. In May, senior Chinese officials said that it is necessary to crack down on Bitcoin mining and trading, and resolutely prevent the transmission of individual risks to the wider society.
Abbas Qureshi 3 weeks ago
Bitcoin mines in Southwest China's Sichuan Province - one of China's largest cryptocurrency mining bases - were closed as of Sunday, according to after local authorities ordered a halt to mining in the region on Friday amid an intensified nationwide crackdown against cryptocurrency mining.

The ban also means that more than 90 percent of China's Bitcoin mining capacity is estimated to be shut down, at least for the short term, as regulators in other key mining hubs in China's north and southwest regions have taken similar harsh steps.

Some industry players had hoped that regulators in Sichuan, where hydropower is abundant, could take a softer approach. But the latest ban underscores Chinese regulators' determination to curb speculative crypto trading to control financial risks, despite certain benefits to local economies, observers said.

"The exit window is closing, and we're scrambling to find overseas mines to place our mining devices," a Sichuan-based industry insider, who spoke on condition of anonymity, told the Global Times on Sunday, adding that a number of miners have suffered huge losses.

The Sichuan Provincial Development and Reform Commission and the Sichuan Energy Bureau issued a joint notice on Friday, ordering local electricity companies to "screen, clean up and terminate" mining operations by Sunday.

The notice listed 26 firms that had been inspected and reported as potential cryptocurrency mining enterprises, including Heishui Kedi Big Data Tech Co and Kangding Guorong Tech Co.

The notice also ordered local electricity companies to immediately stop supplying power to crypto mining projects they have detected, and conduct self-inspection and rectification, and report their results by Friday. Also, it banned local authorities from approving new mining projects.

"We had hoped that Sichuan would be an exception during the clampdown as there is an electricity glut there in the rainy season. But Chinese regulators are now taking a uniform approach, which would overhaul and rein in the booming Bitcoin mining industry in China," Shentu Qingchun, CEO of Shenzhen-based blockchain company BankLedger, told the Global Times on Sunday.

Chinese companies-backed Bitcoin mining pools, such as Huobi Pool, Binance and AntPool, have experienced a 20 percent to 40 percent plunge in their real-time hash rates within the past 24 hours, according to media reports.

Northwest China's Xinjiang Uygur Autonomous Region, North China's Inner Mongolia Autonomous Region and Southwest China's Yunnan Province have all announced rules curbing Bitcoin mining.

"That means that more than 90 percent of Bitcoin mining capacity, or one-third of the global crypto network's processing power, will be suspended in the short term. As a result, Chinese miners must form alliances to migrate overseas, to places such as North America and Russia," Shentu noted.

He added that the price of mining machines could take a dive in the short term, as many crypto miners would dump the processing equipment, but market willingness to digest the oversupply would remain lukewarm. That would also "hammer" upstream supplies.

Wang Peng, an assistant professor at the Gaoling School of Artificial Intelligence at the Renmin University of China, told the Global Times on Sunday that the Chinese authorities' move is in line with global financial regulators' tightened scrutiny of digital currency trading, to prevent systemic financial risks and illegal activities such as money laundering.

In May, senior Chinese officials said that it is necessary to crack down on Bitcoin mining and trading, and resolutely prevent the transmission of individual risks to the wider society.
kain123 3 weeks ago
I see why China did create there own coin but you will never get ride of the stable coins that are out there such as bitcoin
Vukosi 3 weeks ago
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Vukosi 3 weeks ago
Chinese regulators are doing everything possible to crack down on cryptocurrency trading activities. This time around, they have shut down a company that develops cryptocurrency trading software.

China’s War Against Crypto Trading Continues
The Beijing office of the People’s Bank of China announced yesterday that it had called for the shutdown of a company developing software for cryptocurrency transactions. The authorities also warned citizens against trading.
The authorities shut down the operations of Beijing Qudao Cultural Development Limited, claiming that the company provides software services that support crypto trading activities. Following the ban, Beijing Qudao has now been deactivated, and its website has been suspended.

Beijing Qudao Cultural Development was established in 2016 and is popular for providing services in the marketing, public relations, modeling and entertainment sectors. According to the regulators, companies operating in Beijing are no longer permitted to provide business premises, ad display, marketing or paid online traffic services to crypto entities.

The regulators also said banks and financial institutions are not allowed to provide any service directly or indirectly to customers related to crypto transactions.The cryptocurrency market has gotten used to the numerous bans issued on cryptocurrency activities in China. Over the past month, the Chinese authorities have banned crypto-related activities on more than three different occasions.

The People’s Bank of China directed banks and payment companies in China to stop providing financial services to cryptocurrency entities. The move made it almost impossible for cryptocurrency trading to thrive in China.The Sichuan government also joined other Chinese provinces in banning cryptocurrency mining in the region. The shutdown of 26 mining farms and other smaller cryptocurrency miners ultimately affected Bitcoin’s hashrate.

However, despite the constant FUD from China, Bitcoin’s price has maintained its position in recent weeks. Bitcoin is still trading below $35k, down by over 40% from its all-time high
Vukosi 3 weeks ago
BUSINESS INSIDER | TRENDING
China sends out another crypto crackdown warning as it orders a Beijing software maker to shut down
Sophie Kiderlin , Business Insider US
Jul 06



Budrul Chukrut | SOPA Images | LightRocket | Getty
Budrul Chukrut | SOPA Images | LightRocket | Getty Images
Chinese authorities ordered a software maker to close over suspected involvement in crypto trading, reports said.
Companies can't provide advertising services for crypto-related businesses, Chinese regulators said.
The move by China's central bank and Beijing's financial regulator steps up the crackdown on crypto.
For more stories go to www.BusinessInsider.co.za.
Chinese authorities have told a Beijing-based software maker to shut down over its suspected involvement with cryptocurrency trading, media reports said on Tuesday, a sign the country's authorities are pressing on with their crackdown on digital assets.Beijing Qudao Cultural Development closed its doors on the orders of a Beijing office of China's central bank, which said the company had facilitated crypto transactions via the software services it offered, Channel News Asia reported. The software company's website is no longer accessible as part of the enforcement.The People's Bank of China said in a statement that it took the action "to prevent and control the risk of speculation in virtual currency transactions, and protect the safety of the public's assets," the report said.

The central bank office also warned that companies in Beijing are not permitted to encourage crypto trading in any way. In particular, it noted they are banned from providing physical trading venues and crypto-related services, and from promoting cryptocurrencies through commercial displays or advertisements.

Financial and payments firms were further told not to offer direct or indirect cryptocurrency-associated services to their clients.China has been cracking down on crypto over the last months. Financial institutions in the country are not allowed to offer crypto services, and associated businesses, such as bitcoin miners, have been placed under tight restrictions or forced to halt operations in some regions. Some crypto influencers had their social media accounts blocked.

The crackdown has had an impact on cryptocurrency prices as well as on global crypto-trading activity. Ether's global hash rate for example fell by 23% in June as China's regulatory grip tightened, while blockchain analysis firm Glassnode found that the ban on crypto mining was putting pressure on firms to liquidate crypto assets, dragging prices lower. Last month, China said it has arrested over 1,100 suspects on crypto-related money laundering charges.

The Chinese government has addressed the crackdown, saying that it is necessary to reach the country's climate change targets as crypto mining and transactions use a significant amount of energy. Concerns over security and fraud have also been cited.
onur özdemir 1 week ago
Çin kripto para dünyasına darbe planı var