09 Jun
China’s Qinghai province has banned virtual currency mining operations,following on the news that Xinjiang and Inner Mongolia have tightened regulations also.
Authorities cited concerns on high energy-consumption, environmental pollution, and also a central government (State Council) directive to maintain financial stability.
This is a negative input for BTC (and crypto more generally) but there was some good news for it also:
The net result for the past hours has been the positives winning out, BTC has had a stunning rise from lows seen just above $31K:
