China’s bitcoin crackdown: why is it happening and what’s next for the original cryptocurrency?

Source: China – South China Morning PostBitcoin, the world’s first and most popular blockchain-based cryptocurrency, has seen a wild year. After investment fervour pushed prices past US$63,000 in April, its value then plummeted by more than 40 per cent.Beijing, concerned by the volatility, announced another crackdown on the cryptocurrency. This time, it went after a practice previously assumed to be safe: bitcoin mining.Local governments across mainland China have responded by pushing out cryptocurrency miners, forcing some of these…Read More

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