News from China: What Is Happening in the Local Cryptosphere

It is the reason why small companies have to work under strict regulatory policy control. Large exchanges like Huobi and OKEx get government support though.

CEO Sino Global Capital Matthew Graham commented on the situation on Twitter as follows:

• Chinese exchanges have a high acceptance level.

• Binance and major international cryptocurrency exchangers are frozen.

• Small sites, such as MXC and Biki, are being persecuted and transferring business to offshore.

• The Chinese share of mining capacity exceeds 60% of the global.

The news of the search and arrest of Binance employees turned out to be just journalists’ rumors. The widespread ban of mining on old equipment turned out to be true though, and a sharp decrease in Bitcoin hashrate to the current level of 94 EH/s proves it.

Neironix analytic agency - the latest news on cryptocurrency!