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Rebels Lead Resurgence in China’s Bitcoin Mining Activity

Rebels Lead Resurgence in China’s Bitcoin Mining Activity

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by May 18, 2022 Market
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The Street

By Tony Owusu Last August, data suggested that China’s crackdown on cryptocurrency was absolutely working, but new data suggests that it’s not breaking the country’s appetite for bitcoin. Sometimes the more one tries to control something the more uncontrollable that thing gets. Last September, China raised the stakes of its crackdown on cryptocurrency, announcing a blanket ban on all crypto transactions and mining. The country’s largest financial entities, including the People’s Bank of China (the central bank), announced a coordinated effort to stamp out crypto activity that the central gover…

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