China crypto mining businesses eye exit amid crackdown
Several cryptocurrency miners make plans to close or move their business overseas
24 May 2021 - 17:49
Shanghai — Cryptocurrency miners, including HashCow and BTC.TOP, have halted all or part of their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny.
A State Council committee led by Vice-Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time China’s cabinet has targeted virtual currency mining, a sizeable business in the world’s second-biggest economy that some estimates say accounts for as much as 70% of the global crypto supply...
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