Cryptocurrency Q&A
Is crypto mining banned in China?
Is crypto mining banned in China?
Andrea
Tue Nov 05 2024
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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.
6 answers
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
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
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
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
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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