Market Continues To Fall as China Mulls Banning BTC Mining
CoinEdition
Published May 22, 2021 02:48AM ET
Updated May 22, 2021 03:00AM ET
Market Continues To Fall as China Mulls Banning BTC Mining
- China’s Financial Committee announces a crackdown on Bitcoin mining activities.
- The market continues to fall down as Bitcoin reacts negatively to this news.
- It is the first time the highest level of Chinese government addresses a stop on trading BTC.
In a meeting held this Friday, China discusses strict anti-cryptocurrency regulations. China’s Financial Committee discussed ways to lessen financial risks in the country. More so, the said council headed by its Vice Premier Council Liu He believes it ensures a powerful economic cycle.
With that said, the Twitter community thinks it is simply FUD (fear, uncertainty, and doubt). However, Bitcoin seems to react negatively to this news, falling below $36,000.
Apart from this, Wu Blockchain,
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Written By: CoinEdition
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