Bitcoin<\/a> mining has resulted in BTC dropping from $41k to a local low of $36,600. Only time will tell whether Bitcoin and crypto traders will continue selling their holdings on this news.<\/p>\nChina Had Announced a Similar Ban in 2018<\/h2>\n
The statement by Vice Premier Liu He is similar to the one that was issued by the Chinese Government back in January 2018 when it banned Bitcoin mining and crypto trading. The ban back then was aimed at cracking down on money laundering, fraud, and limiting the amount of electricity used by miners.<\/p>\n
At the time of writing, it is still uncertain as to whether the Chinese government will follow up on its intention of cracking down on Bitcoin mining and crypto trading this time around.<\/p>\n","protected":false},"excerpt":{"rendered":"
China has reignited plans of cracking down on Bitcoin mining and trading within its borders Bitcoin has dipped from $41k to a local low of $36,600 due to the news China’s government had announced and initiated a similar crackdown in 2018 which officially kicked off the bear market then The Chinese government has once again reiterated its plans of cracking down on Bitcoin mining and crypto trading within its territories. The call to ban Bitcoin mining and crypto trading was […]<\/p>\n","protected":false},"author":22,"featured_media":54757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1233,6961,1232,747],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566976"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566976"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/54757"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}