China Bans Cryptocurrency Transactions and Mining

by Oliver Young | Sep 24, 2021

On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate cryptocurrency, root out rivals to government-issued money, and reduce the energy consumption of the heavily polluting sector. It also comes amid Xi Jinping’s long-running anti-corruption campaign and more recent efforts to reign in powerful tech-sector businesses and monopolistic platforms. Stock prices for Bitcoin and other popular cryptocurrencies nose-dived...

Under the powerful machinery of the party-state, ignorance and fear can be cultivated, information and news can be blocked, truth and reality can be distorted. But once you have personally experienced it, once you have witnessed it for yourself, you cannot feign ignorance, nor give up recording it, nor sit and wait for death. The darkness is boundless, and but a trace of truth and light remains: this trace must not be surrendered."

- Missing #MeToo activist Huang Xueqin, in a 2019 essay first published in Matters

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Huang Zhijie, the executive editor of Watching Media and a popular self-media blogger, has resurfaced after disappearing from social media for six months when one of his posts curried enough anonymous threats to himself and his family that he called the police. Huang’s troubles began around the Lunar New Year, when photos of people kowtowing to their elders made the rounds online. He lambasted the New Year’s tradition as “backwards”—and then was bombarded with phone calls and messages from strangers asking for his address. Mandy Zuo first reported on the controversy for the South China...

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China Bans Cryptocurrency Transactions and Mining

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On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate cryptocurrency, root out rivals to government-issued money, and reduce the energy consumption of the heavily polluting sector. It also comes amid Xi Jinping’s long-running anti-corruption campaign and more recent efforts to reign in powerful tech-sector businesses and monopolistic platforms. Stock prices for Bitcoin and other popular cryptocurrencies nose-dived...

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On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate cryptocurrency, root out rivals to government-issued money, and reduce the energy consumption of the heavily polluting sector. It also comes amid Xi Jinping’s long-running anti-corruption campaign and more recent efforts to reign in powerful tech-sector businesses and monopolistic platforms. Stock prices for Bitcoin and other popular cryptocurrencies nose-dived...

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China Bans Cryptocurrency Transactions and Mining

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On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate cryptocurrency, root out rivals to government-issued money, and reduce the energy consumption of the heavily polluting sector. It also comes amid Xi Jinping’s long-running anti-corruption campaign and more recent efforts to reign in powerful tech-sector businesses and monopolistic platforms. Stock prices for Bitcoin and other popular cryptocurrencies nose-dived...

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On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate cryptocurrency, root out rivals to government-issued money, and reduce the energy consumption of the heavily polluting sector. It also comes amid Xi Jinping’s long-running anti-corruption campaign and more recent efforts to reign in powerful tech-sector businesses and monopolistic platforms. Stock prices for Bitcoin and other popular cryptocurrencies nose-dived...

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