Search Results for: ANHUI

China Anhui Province Becomes the Latest Region to Crack the Whip on Crypto Mining

Anhui, an eastern Chinese province, has become the latest region to shut down all crypto mining activities, citing an acute power shortage. Crypto mining continues to be unwelcome on Chinese soil as authorities continue cracking the whip on this sector. Intensified crackdown on Bitcoin mining According to Reuters, citing a news portal operated by state-owned … Continue reading China Anhui Province Becomes the Latest Region to Crack the Whip on Crypto Mining

Brazil Highlights Blockchain Technology as a Digital Strategy Goal

Last week, Brazil unveiled its Digital Government Strategy that highlighted the use of distributed ledger systems and blockchain technology to transform major parts of the economy, especially in a post-COVID-19 environment.  Brazil’s blockchain push Major takeaways of the “Decree 10332/2020” include the unification of digital payment and financial channels, development of interoperability between legacy systems, … Continue reading Brazil Highlights Blockchain Technology as a Digital Strategy Goal

Bitcoin’s Short-Term Interest Declines by 43% From an ATH Experienced in February

Bitcoin has been stuck to its consolidation period between the $30K and $40K range for more than two months, making short-term interest nosedive to levels not seen since September 2020, as acknowledged by IntoTheBlock. The data science firm explained: “Bitcoin’s short-term interest is back to September 2020 levels. The number of addresses holding BTC for … Continue reading Bitcoin’s Short-Term Interest Declines by 43% From an ATH Experienced in February

Bitcoin Mining in China Dropped before the Latest Crackdown

New research conducted by the Cambridge Centre for Alternative Finance (CCAF) shows that Bitcoin mining in China has already nosediving even before the government started cracking the whip on crypto mining in May.  China’s Bitcoin mining dominance slumps According to coverage from BBC, citing a study by the CCAF. The announcement stated: “China’s share of … Continue reading Bitcoin Mining in China Dropped before the Latest Crackdown

Almost $98 Billion Evaporated in the Crypto Space Triggered by a Big Sell-Off in the Global Stock Market

Bitcoin (BTC) plummeted below the psychological price of $30,000 in the last 24 hours for the second time since mid-May. As a result, the entire crypto market found itself on the receiving end because about $98 billion has been evaporated. A major sell-off was witnessed in the global stock market According to Annabelle Huang, a … Continue reading Almost $98 Billion Evaporated in the Crypto Space Triggered by a Big Sell-Off in the Global Stock Market

Bitcoin Mining Geographical Distribution Shifts as U.S. Becoming the Biggest Beneficiary

Things were not rosy for Bitcoin (BTC) mining even before the Chinese authorities intensified the crackdown on this sector in May. Recent research conducted by the Cambridge Centre for Alternative Finance (CCAF) indicates that China’s share of mining fell from 75.5% in September 2019 to 46% in April 2021. As a result, BTC mining has … Continue reading Bitcoin Mining Geographical Distribution Shifts as U.S. Becoming the Biggest Beneficiary

Bitcoin’s Hashrate Rebounding after Engaging a 50% Drop

The hashrate of Bitcoin seems to be on an upward trajectory after nosediving by 50% amid intensified crackdowns on crypto mining by Chinese authorities recently. Crypto data provider CoinMetrics explained: “China’s sudden crackdown on mining in Q2 2021 left miners with no choice but to shut down operations and move elsewhere. Bitcoin’s hash rate fell … Continue reading Bitcoin’s Hashrate Rebounding after Engaging a 50% Drop

Bitcoin’s Hashrate Edges Closer to the 30-Day Moving Average, Suggesting a Bullish Crossover

Bitcoin miners seem to be on the right footing as the hashrate is on an upward trajectory after nosediving by more than 50%. Crypto analytic firm Dilution-proof explained: “The Bitcoin hashrate has recovered enough that its 30-day moving average (Green) is close to a bullish crossover of its 60-day moving average (Blue), which precedes a … Continue reading Bitcoin’s Hashrate Edges Closer to the 30-Day Moving Average, Suggesting a Bullish Crossover

Chinese Authorities Crack Down on 54.8 Million USDT Money Laundering Scheme

On July 18, 2023, Chinese authorities in Qingshui County, Jincheng City, Shanxi Province successfully cracked a money laundering case involving the use of the cryptocurrency Tether (USDT). The operation led to the arrest of 21 suspects, the seizure of over 40 mobile phones, and the confiscation of cash and USDT worth over 1 million yuan. … Continue reading Chinese Authorities Crack Down on 54.8 Million USDT Money Laundering Scheme

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