Tag: China

The Kazakhstan authority has introduced a new law regarding cryptocurrency mining taxation. The officials published a statement saying that the signed law is expected to come into effect in January 2022 and to generate billions of tenge to the national budget. Kazakhstan joins Iran in taxing the mining industry, given the lucrative potential for business….

Central bank digital currencies (CBDC) are a promising tool that will enable people to make payments quickly, inexpensively and without intermediaries. That is precisely why now the central banks of the world’s leading countries are conducting research and development, making plans to create their own digital currencies. However, the process doesn’t look particularly fast-rolling yet:…

China has moved deliberately to secure the first-mover advantage in what it believes is the future of the internet. If the digital yuan is Beijing’s tender for the digital frontier, its blockchain initiative is its bid to build the railroads. In the first installment of a three-part series produced with support from the Judith Neilson…

In just one day, the Chinese authorities have essentially destroyed the country’s crypto business. It resulted in a massive drop in the cryptocurrency market and the hash rate collapse. The main question is what motives drive Beijing’s actions? On Monday, June 21, the People’s Bank of China (PBC, acts as the country’s central bank) issued…

Bitmain, China’s largest manufacturer of top-tier crypto mining machines, has claimed on Wednesday that it suspends sales of its miners globally due to the mining restriction in China. According to Bloomberg, the Beijing-based mining giant decided to cut supply after its rigs have lost their value by about 75% since April. In recent weeks, China…

A month ago, Beijing began a fierce crackdown on the crypto mining and trading industry in China, caused so-called “the great mining migration.” Who will gain an advantage of this great crypto exodus? Experts believe that would be the places with abundant solar and wind energy, free market, and crypto-friendly policy. For a long time,…