News Snapshot:
CaiXin Magazine, a leading Chinese financial and business media outlet, listed the reasons behind Beijing’s decision to ban Bitcoin mining and trading. These were shared by blockchain journalist Colin Wu (@WuBlockchain), who reports exclusively on China’s blockchain developments. Wu tweeted, “ Caixin magazine, which is most recognized by Chinese financial officials, disclosed some of the reasons why Beijing wants to crack down on Bitcoin mining and crypto: 1. Chinese listed companies do not do their own business, they buy mining machines and build mines. “ Earlier this month, China banned financial institutions and payment companies from providing crypto-based services, warning...
