China cracks down on bitcoin mining

Signal of change / China cracks down on bitcoin mining

By Joy Green / 29 Jan 2018

China seems to be trying to crack down on Bitcoin mining - which is significant as more than two-thirds of the world's Bitcoin mining operations are based there:

China wants an "orderly exit" from bitcoin mining

Bitcoin mining could be on its last legs in China. The country's top internet-finance regulator, the Leading Group of Internet Financial Risks Remediation, issued a notice asking local governments to "guide" bitcoin-mining operations to make an "orderly exit" from the business, according to a leaked document online.

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What might the implications of this be? What related signals of change have you seen?

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