Published On: Tue, Nov 14th, 2017

China Bans Bitcoin Mining? Rumors Fly as Notices Appear In Press

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Chinese Bitcoin mining farms are reportedly receiving immediate cease and desist notices from authorities.
Bitcoin Mining Now ‘Illegal’?
Evidence surfacing on Twitter added to an article from local news outlet Caixing today, which stated electricity supplier in Szechuan province had said Bitcoin mining was now “illegal.”
“Immediately stop supply power to bitcoin mining businesses upon receiving this notice,” a translated notice proclaiming the ban uploaded by 8btc and translated on Twitter states.

If true, the wholesale halting of mining in China’s cheap energy hotspots would significantly degrade the country’s competitiveness, having previously issued a ban in both Bitcoin-to-fiat exchange and ICOs.
Mining activities survived previous bans, with commentator Andreas Antonopoulos relaying how state-sponsored activities were ensuring the practice continued unhindered.
While Caixin mentions “punishment” for nonconformity, it remains unclear as to how wide-ranging the scaling back of mining will be.
Wu No-Show At Ethereum Classic Summit
Reacting to the news, social media commentator WhalePanda suggested it was the reason Bitmain CEO Jihan Wu did not make a planned appearance on a mining panel at the Ethereum Classic Summit in Hong Kong today.

I don’t know what % miners this …

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