Taming the dragon: China’s First Attempt to Regulate the Crypto Industry

[kreslik.news]

In its glory days, China dominated the cryptocurrency trading and mining industries. More than three-quarters of the world’s mining hashpower was in China; an eye-popping 95 percent of all BTC trading took place in the country.

All of that changed in 2017 when the Chinese government seta sweeping set of bans in motion. Suddenly, Chinese cryptocurrency exchanges, miners, and holders were sent into a wave of confusion as the Chinese government banned ICOs, followed by domestic cryptocurrency exchanges.

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Despite the Chinese government’s harsh attitude toward cryptocurrency, the Chinese blockchain industry appears to ... (read more)