China curbing cryptocurrency

Last month, China banned financial institutions and payment companies from providing crypto-related transactions.

Banned activities include registration, trading, clearing and settlement. Crypto exchanges and initial coin offerings are also on the list. For now, individuals can still hold onto their cryptocurrency.

Up until this week, an estimated 65% of global bitcoin (BTC) mining was done in China. Prior to 2017, China’s crypto market accounted for 90% of global bitcoin trades. China shut down local crypto exchanges in 2017, and in 2019 the People’s…

--

--

--

Magazine editor, writing about finance, China, and literature!

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

9 Ways You Can Have Fun With Cryptos

BTCNEXT Exchange Update #36

Xfinite — September Recap

PEAKDEFI´s first trading cycle finished

President Nayib Bukele Announced That 44 Countries Will Join The Bitcoin Discussion in El Salvador…

SelfKey Product Progress Report August 2018

Weekly Crypto Report(9–15 March 2020)

Chain Pet Is Newly Upgraded, Opening A New Stage Of Development -1200 Out-Of-Print Blind Boxes.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Rosalind Butterworth, MSc

Rosalind Butterworth, MSc

Magazine editor, writing about finance, China, and literature!

More from Medium

TOP 5 TIPS ON BECOMING A SMART CRYPTO TRADER

BTCUSD Bears Are In Control @ Crappy Trader Notes #6

DeFi & dApps: A Closer Look (3 of 6)

The Inside Scoop on What Crypto Returns Will be 12 Months From Now