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The country celebrates 100 years of Communist Party rule, pressure may be released as the economy goes back to status quo, Beijing subway now trialing e-CNY. Go to Source Powered by WPeMatico
Bitcoin bears could take a $31-million lead if BTC falls below $33,000 by Friday’s options expiry, but at the moment, both sides are balanced. Go to Source Powered by WPeMatico
The new law introduces an additional tax levy for energy used by crypto miners starting from January 2022. Go to Source Powered by WPeMatico
Despite China’s undermining, Bitcoin still exists and survives in lots of ways, Galaxy Digital’s CEO says. Go to Source Powered by WPeMatico
Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan payments for subway fares. Digital Yuan … Read more
Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra Fee per Kilowatt-hour of Electricity Crypto mining entities … Read more
It’s unclear if the shutdowns are due to orders passed down from above or the result of China’s announced regulatory crackdown on crypto miners. Go to Source Powered by WPeMatico
Beijing’s rail transit service now accepts digital yuan for subway rides through an integration with the Industrial and Commercial Bank of China. Go to Source Powered by WPeMatico
Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads for Hydropower Plants Appear on Xianyu Marketplace Advertisements for … Read more
The great hash rate plunge caused by an exodus of miners from China shows large scale Proof-of-Work mining facilities are vulnerable to regulation. Go to Source Powered by WPeMatico