Crypto Currency Tracker logo Crypto Currency Tracker logo
Seeking Alpha 2021-09-16 14:05:10

China steps up cryptocurrency mining crackdown, Laos embraces mining, trading

Chinese authorities takes the next step in searching out illegal cryptocurrency mining activities by targeting research institutions, colleges, and data centers, Bloomberg reports, citing people with knowledge of the situation. At the same time, debt-laden Laos authorizes the mining and trading of crypto, hoping to profit from the digital mining crackdown in China, the Financial Times reports. The move represents a pivot in that last month the country's central bank warned banks, companies, and people against using crypto. Six companies including construction groups and a bank have been authorized to mine and trade crypto, such as bitcoin, ethereum, and litecoin, Laos's office of the prime minister said. Meanwhile, the intensified crackdown in China is partly due to concerns over power supplies for the upcoming winter season, Bloomberg said. The government will start a mechanism to monitor and track computing activities regularly in October, according to the article. Bitcoin (BTC-USD) slips 0.4% over the past

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.