Cryptocurrency Q&A Is crypto mining banned in China?

Is crypto mining banned in China?

Andrea Andrea Tue Nov 05 2024 | 6 answers 1521
I heard some news about China and cryptocurrency mining. I'm wondering if crypto mining is currently banned in China or if there are just certain restrictions in place. Is crypto mining banned in China?

6 answers

DigitalLegend DigitalLegend Thu Nov 07 2024
To further evade scrutiny, the transactions are capped at 50,000 yuan ($6,978). This limit ensures that the transactions do not raise suspicion and remain under the radar of the financial regulators.

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GwanghwamunGuardianAngelWingsBlessing GwanghwamunGuardianAngelWingsBlessing Thu Nov 07 2024
The rise of grey-market dealers has created a thriving underground market for cryptocurrencies in China. This market operates in a shadowy legal grey area, presenting both opportunities and risks for those involved.

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GeishaCharm GeishaCharm Thu Nov 07 2024
Crypto trading and mining activities have faced a significant restriction in China since 2021. This ban has led to a shift in the market dynamics, as traders and miners seek alternative platforms and methods to continue their operations.

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BitcoinWarrior BitcoinWarrior Thu Nov 07 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of crypto traders and miners. Its services include spot trading, futures trading, and a secure wallet for storing cryptocurrencies.

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Valentino Valentino Thu Nov 07 2024
Despite the ban, some individuals have resorted to using grey-market dealers to purchase cryptocurrencies. These dealers operate outside the official financial system, offering a means to bypass the restrictions imposed by the Chinese government.

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