china - Adrian Hetman

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A collection of 7 posts

Why does China Central Bank fears Stablecoin?

Why does China Central Bank fears Stablecoin?

It was bound to happen. After Bitcoin Mining Ban [https://www.adrianhetman.com/chinas-crackdown-on-cryptocurrencies-continues/] and general crackdown of cryptocurrencies in China, The People’s Bank of China has expressed concern over the risk of Stablecoins. Bank of China states that Bitcoin and Stablecoins have become speculative tools that threaten financial

Bitcoin Hashrate dropped 17% due to China’s crackdown on crypto

Bitcoin Hashrate dropped 17% due to China’s crackdown on crypto

On June 18th, Sichuan officially issued a document requesting power generation companies are required to immediately stop supplying power to any virtual currency mining and report the relevant situation on the 25th. We are starting to see the effects of this decision as the amount of mining power backing Bitcoin

China's crackdown on cryptocurrencies continues

China's crackdown on cryptocurrencies continues

With the recent ban of many cryptocurrency accounts on Weibo and the increasing crackdown on bitcoin mining, new restrictive policies are being enforced. Along with crypto trading, China's carbon neutrality goal has raised concerns once again this month. With China celebrating the 100th birthday of CCP, cryptocurrencies became an important

Does China prepares the ground for Digital Yuan with the latest bloodshed on crypto?

Does China prepares the ground for Digital Yuan with the latest bloodshed on crypto?

On May 21st, 2021, the Chinese Government announced it would "crackdown on bitcoin mining and trading behavior and resolutely prevent the transfer of individual risks to the society.". We already saw fall-down of this decision in the form of Bitcoin Mining Pools selling their hardware global BTC mining difficulty dropping

How is Bitcoin's mining doing amidst new regulations from China?

How is Bitcoin's mining doing amidst new regulations from China?

We’re starting to see the decrease in the mining difficulty as the result of the Chinese ban on Bitcoin’s mining [https://www.adrianhetman.com/bitcoin-mining-ban-from-china/]. On May 21st, 2021, the Chinese Government announced it will “crackdown on bitcoin mining and trading behavior and resolutely prevent the transfer of

Will Digital Yuan replace U.S. Dollar?

Will Digital Yuan replace U.S. Dollar?

Since Bitcoin's white paper release in 2008, people’s minds were lighted up by a prospect of a digital currency, truly decentralized and free of the Government. For the governments, that meant the complete opposite. They didn’t think it would be a real threat to them. They ignored it,

Bitcoin mining ban from China

Bitcoin mining ban from China

The Crypto market doesn’t have an easy time recently with its bear market. On the one hand, regulators from the USA are trying to tax cryptocurrency transfers [https://www.ft.com/content/09112208-08ce-40a1-8e50-9152f1ba03d9], Elon Musk’s tweets [https://cointelegraph.com/news/after-market-wide-meltdown-elon-musk-voices-tepid-support-for-crypto] as always moves the market, this time