Undefined: China is banning Bitcoin mining because of some crypto companies illegal fundraising

As AZCoin News reported, it seems that China holds up to 52% of the hashrate of the main Bitcoin mining pools. This shows that China is leading the cryptocurrency mining industry. However, recently, according to Molly, Head of Marketing of HashKeyhub, it seems that China is banning Bitcoin mining.

Is China banning Bitcoin mining?

Molly said, according to the information she received from Wushuo, Sichuan sent an internal notice, asking the Chinese government to cleanout crypto mining because some companies are taking advantage of recent announcements about local government supports mining for illegal fundraising.

Thus, it can be said that because some companies want to use the support of the government to profit for themselves, the Sichuan government feels very indignant. Even so. Molly also comforted the community that it was highly unlikely that the Chinese government would comply with Sichuan’s request because it was very typical that the government sent out a conflicting message in China.

However, China probably will not publicly support Bitcoin mining for a while. Although it is just an act to calm public opinion and the Sichuan government.

At the bottom of Molly’s share are a lot of comments. Almost everyone thinks that this is unlikely because China is the leader in this market. And there is no reason for China to give up on the power.

Meanwhile, in Iran, Iranian President Hassan Rouhani has ordered the government to devise a new national strategy for the crypto industry, including mining regulation and mining revenue…


It is true that we cannot keep up with the thinking of the government. AZCoin News will keep you updated on the latest crypto events in China.

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