Tagchina bitcoin ban

China Is Monitoring Offshore Cryptocurrency Exchanges: Local Report

China is once again stepping up its enforcement of policies prohibiting cryptocurrency trading, amid reports that domestic traders have managed to circumvent these restrictions by accessing offshore exchanges. That’s according to a report in Shanghai-based publication Yicai, which said that the department in charge of supervising the country’s public communications networks had begun closely...

Bitcoin Price Tumbles as China's Central Bank Tightens the Noose on Cryptocurrency Traders

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China's government dealt the cryptocurrency markets a severe blow on Tuesday, as multiple outlets reported that the central bank officials plan to block residents from accessing foreign cryptocurrency trading exchanges. The news took the wind out of the market's sails, and led by the bitcoin price, every top 100-cryptocurrency lost value against the US dollar. People's Bank of China (PBoC)...

Chinese Bitcoin Miners Ponder Operations Overseas amid Potential Ban

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Recently, various reports have been suggesting that China’s crackdown on cryptocurrencies will extend to mining, as state-run Sichuan Electric Power Corporation reportedly distributed a circular ordering grid-connected hydropower stations to stop supplying low-cost electricity to bitcoin mining operations. As reported by CCN, the report has been debunked as the company admitted it made several...

China Bitcoin Crackdown to Extend to Low-Cost Mining Ban: Report

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China's Sichuan province is gearing up to extend its bitcoin ban to mining operations as part of its wider crackdown on the cryptocurrency industry. According to local media outlet Tencent Finance, the state-run Sichuan Electric Power Corporation has distributed a circular ordering grid-connected hydropower stations to stop supplying low-cost electricity to bitcoin mining operations. Because...

BTCC Chief Bobby Lee on SegWit2x and China's Bitcoin Exchange Ban

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BTCC chief executive Bobby Lee does not think China currently has any plans to ease its hostile stance on domestic bitcoin exchanges, nor does he intend to reverse his support for the controversial SegWit2x hard fork that is scheduled to activate this month. Lee made these statements during an Ask Me Anything (AMA) held on the BitcoinMarkets subreddit. Although the AMA touched on a number of...

China ICO Ban: World’s Oldest Bitcoin Exchange Shuts Its Doors

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Bitcoin exchange BTCC has closed its CNY trading platform in compliance with the China ICO ban, marking the end of an era for the bitcoin community both inside and outside of China.  BTCC made the announcement on Twitter, noting that it had operated for a “world record of 2,305 days.” Indeed, the vast majority of bitcoin users likely cannot remember a time before BTCC. Throughout the world...

NEO Founder: Government Collaboration 'Possible'

NEO founder Da Hongfei spoke with regulators prior to China's ICO ban to confirm that the NEO project was developing as originally communicated to the government. Da disputed rumors that China will ban cryptocurrency mining and stated that he believes a collaboration with the government is "possible" in the future. The NEO founder himself made this revelation in an interview with Dutch financial...

Charlie Lee: China Bitcoin Mining Ban Rumors are False

Litecoin creator Charlie Lee says a trusted source has told him that China will not ban bitcoin mining operations or the bitcoin network. He says the rumors are being propagated by large-scale traders who are attempting to manipulate the bitcoin price. Lee revealed this information Thursday night on Twitter, stating that he had not traded on the knowledge before making it public. 1/ I have a...

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