Latest China Ban Impacting Bitcoin

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Last week, news surfaced that China had banned financial institutions in the country from offering Bitcoin services and that it will be cracking down on mining. Many in the Bitcoin community (this publication included) met the news with rolling eyes — China has historically “banned” its businesses from using Bitcoin many times with little impact and it’s also not technically possible to outright ban Bitcoin from personal use.

However, it’s clear that this latest regulatory measure is having a very tangible impact on the Bitcoin ecosystem as miners and exchanges based in the country are limiting or putting an end to their Bitcoin-focused activities.




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