China Forces Bitcoin Miners to Scale Down Amid Electricity Shortfall

Samson Mow of Blockstream has noted that mainstream financial media outlets in China are reporting about Bitcoin and crypto despite a nationwide commercial ban. Is the Chinese government finally softening on crypto or what?

Is crypto fever finally setting in?
China’s authoritarian government may be softening their stance on crypto, since President Xi Jinping came out publicly in support of blockchain technology. China has had a commercial ban in place barring exchanges, and financial institutions form engaging in crypto transactions, as well as shutting down the WeChat accounts of several crypto-related news outlets. The additional ban on crypto news outlets was allegedly to prevent scam ICO’s being advertised to Chinese citizens.
China’s ban has been in place since 2018 and since it was enacted Chinese traders have used various…

Click to continue reading on its source location…