News Snapshot:
At least three more provinces in China have ordered a halt to all cryptocurrency mining operations, falling in line with Beijing’s crackdown, which has diminished the country’s share of computational power used to support the global bitcoin network. The local governments of eastern Anhui province, Henan in central China and northwestern Gansu province followed recent initiatives against cryptocurrency miners implemented by southwestern Sichuan and Yunnan provinces, the northern Inner Mongolia region, northwestern Qinghai province and the western Xinjiang region. Anhui decided to “clean up and shut down cryptocurrency mines” to avoid a power shortage in the next three years, according...
