China issues a public reminder that cryptocurrencies are not legal tender
A public reminder that Bitcoin (BTC) and other virtual currencies “are not legal tender and have no actual value” has apparently been issued by China, as part of a stepped-up crackdown on cryptocurrencies. Yin Youping, deputy head of the People’s Bank of China’s (PBOC) Financial Consumer Rights Protection Bureau, stated in a local media briefing […]
China shuts down 11 companies suspected of illegal crypto trading
China’s crypto crackdown continues as the Shenzhen branch shuts down 11 out of the 46 companies suspected of illegal cryptocurrency trading. Companies that continue to trade or mine cryptocurrencies risk facing significant fines and prison time. Despite this, a handful of businesses continue to trade in cryptocurrencies , with reports claiming that 46 businesses are […]
Fidelity invests $20 million in Marathon Digital Holdings to acquire a 7.4 percent stake
The shares bought by the $20 million invested in Marathon was received by Four Fidelity index-based funds. Fidelity Investments , a global financial services firm, announced the acquisition of a 7.4 percent stake in Marathon Digital Holdings, a major North American mining company. Marathon currently operates 19,000 miners, with an additional 100,000 machines scheduled to […]
Cryptocurrency will not suffer from China’s crackdown – Bobby Lee
In order to help Chinese citizens stay clear of high-risk investments, there has been regulatory pressure on crypto firms in China, however, most crypto firms globally are now putting measures in place to remain relevant. Bobby Lee, a Bitcoin (BTC) maximalist and Ballet CEO , recently acknowledged the ramifications of China’s ongoing cryptocurrency crackdown. Despite […]
Cryptocurrency mining operation crackdown in Anhui province by the Chinese government
Due to the regulations in China about crypto mining, the government hands are on deck on this issue, as the regulators in Anhui province shutting down local crypto mining operations as a result of growing electricity demand. Theis continued crackdown by the Chinese government on cryptocurrency mining by stopping its operations is yet in another […]