Cryptocurrency

China’s regulators tighten scrutiny of forex dealers, say s

SHANGHAI (Reuters) – China’s regulators are tightening control over the inner workings of its currency market, pressuring banks to trade less and in smaller ranges, two banking sources told Reuters, as part of a sweeping push to curb speculation. The moves follow recent efforts at curtailing financial risks that include dampening commodity price rises, banning…

Cryptocurrency exchanges scramble to drop Chinese users after Bei

Beijing’s new blanket ban on all cryptocurrency trading and mining – the broadest yet by a major economy – has sent crypto exchanges and service providers scrambling to sever business ties with mainland Chinese clients. Shares in a range of Chinese crypto-related firms plunged on the ban which closes off loopholes left in previous regulatory…

Cryptocurrency recovery suggests players want to move past China

China’s fiercest shot yet across the bows of the cryptocurrency world appears to have left investors mostly unruffled. Though Bitcoin and some of its peers tumbled Friday after the People’s Bank of China issued a statement banning crypto transactions and vowing to root out the mining of digital assets, they have largely rebounded since. Bitcoin…

Crypto exchanges rush to cut ties with Chinese users after fresh

By Samuel Shen and Andrew Galbraith SHANGHAI (Reuters) – Cryptocurrency exchanges and providers of crypto services are scrambling to sever business ties with mainland Chinese clients, after Beijing last Friday issued a blanket ban on all crypto trading and mining. In a culmination of years of efforts to rein in the sector, 10 powerful Chinese…

Bitcoin miners eye N-power as environmental criticism mounts

Amid a heated debate over Bitcoin’s environmental toll, two companies say they have an answer on mitigating some of the negative effects: Nuclear energy. Power startup Oklo Inc. said it’s partnering with Bitcoin mining and hosting firm Compass Mining to introduce advanced fission to the energy-intensive process of minting new coins. It’s an effort, the…

Crypto exchange Huobi to clean up existing mainland clients by en

BEIJING (Reuters) – Chinese cryptocurrency exchange Huobi Global said on Sunday it had stopped taking new mainland customers from Friday and would end contracts with mainland clients by the end of the year to comply with local regulations. China’s regulators intensified a crackdown https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24 on Friday, banning cryptocurrency transactions and mining, clarifying that overseas exchanges…

Crypto exchange stops taking China users as Beijing widens ban

Huobi, China’s largest Bitcoin exchange, has halted new registrations for domestic users, taking one of the first actions to comply with Beijing’s latest crypto ban. The exchange operator has stopped letting traders use mainland China mobile numbers to register new accounts, after the People’s Bank of China said Friday all crypto-related transactions will be considered…