CHINA IS FREAKING OUT WITH THE CRYPTO BULL MARKET. HOW CAN THEY BAN CRYPTO-MINING?

China Plans to Ban Cryptocurrency Mining (AGAIN 😄), in Renewed Clampdown.

source
After banning initial coin offerings and calling on local exchanges to halt virtual currency trading in 2017, Chinese officials outlined proposals in 2018 to discourage crypto mining -- the computing process that makes transactions with virtual currencies possible but consumes vast amounts of power. Beijing was said to have asked local agencies at the time to try and push miners out of business. The NDRC’s guidelines are likely to accelerate that process.

The industry, which was initially drawn to China’s
inexpensive electricity, local chipmaking factories and cheap labor, has already begun shifting overseas. Market leader Bitmain Technologies Ltd. -- which in March allowed its application for a Hong Kong initial public offering to lapse -- has established mining operations in the U.S. and Canada. BTC.Top, the third-biggest mining pool, said last year it was opening a facility in Canada. *Read the full article at Bloomberg

Bring it up China, you’ll fail again 😎