China intends to add cryptocurrency mining to its blacklist of industries in which to invest
China has reaffirmed its stance on cryptocurrencies, despite the fact that crypto mining is prohibited in the nation, some have opted to operate illegally. China has added cryptocurrency mining to its ‘bad list’ of sectors. This latest initiative implies that investors may no longer participate in the crypto mining business. According to a Reuters storey […]
It is not possible to destroy crypto – CEO Elon Musk
Tesla’s CEO Elon Musk has expressed support for cryptocurrency, calling it “undeniably irreplaceable,” in the wake of China’s recent cryptocurrency crackdown. “It is not possible to, I think destroy crypto, but governments can slow down its advancement,” Musk stated at the Code Conference in California on September 28, according to CNBC. The decentralized nature of […]
Alibaba bans crypto miner sales amid China’s cryptocurrency crackdown
In reaction to China’s increasing cryptocurrency crackdown, Chinese e-commerce giant Alibaba is the next corporation to shut down its cryptocurrency-related services. On Oct. 8, Alibaba’s platform will prohibit the sale of cryptocurrency miners and halt categories for blockchain miners and accessories, according to an official announcement. In addition to prohibiting the sale of crypto mining […]
Huobi reveals plan for investors in China after stopping crypto trade
“Customers will be able to transfer their assets to other exchanges or wallets over the next few months. Specific measures and operating rules will be outlined in future announcements,” says Huobi Group co-founder Du Jun. As indigenous crypto exchanges like Huobi take aggressive measures to secure and repay existing money residents on the mainland, the […]
Panic sales: China’s crypto ban sparks panic selling among Indians
An unprecedented wave of trading activity swept through India, with transaction volumes increasing by roughly 50% on major crypto exchanges as Bitcoin and Ethereum plummeted to record low levels. This isn’t the first time China has stated its opposition to the use of cryptocurrency. As the country’s anti-crypto stance was reaffirmed, many people panicked and sold their holdings, fearing a loss of profits or investments. To sustain their gains, crypto investors were seen selling smaller asset holdings in the majority of […]