Rumors Have Risen Again: Is China Banning Cryptocurrency Mining?

China was once the first place that comes to mind when it comes to Bitcoin innovation and investment, but the country has shifted gears over the past few years.

As such, rumors began to spread on Friday that the country banned crypto mining, and some believed these rumors.

This rumor has been repeated two or three more times in China over the past year.

No, China Does Not Ban Bitcoin Mining
On Friday morning, the screenshot that appeared below an announcement by the Chinese government began to spread on the Internet. Asia-based blockchain and fintech news center PANews wrote about the image:

“An alert is sent to Bitcoin and crypto mining businesses telling them to finish their activities on a regular basis.”

Others accepted it as the beginning of a systematic breakdown in China’s local crypto mining industry. However, according to the information, these fears are said to be exaggerated.

Molly, one of the former marketing managers of Bitcoin Magazine’s China office, told…