Can you mine crypto in China? Now, a resurgence of bitcoin production in China has catapulted the country to the second-largest destination for people hoping to find new digital currency — there’s still 2 million bitcoins left to be mined.
Why is crypto mining banned in China? China was once a powerhouse for bitcoin mining, contributing to much of the global mining hashrate. However, Chinese lawmakers banned crypto mining in May 2021 over environmental concerns. This led to a mass exodus of the crypto mining industry, which began to look for other countries to set up operations.
Is China still banning crypto? Last year, China’s government banned cryptocurrency trading and mining in one of the world’s most intense crackdowns. But China’s government is pursuing other uses of blockchain technology and non-fungible tokens (NFTs)—as long as the technology stays under its control.
Will US Ban crypto mining? The New York Senate has passed a bill that bans crypto mining operations that use carbon-based fuel to power their facilities.