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Cryptocurrency mining operators, including Huobi Mall and BTC.TOP, are suspending their China operations after Beijing stepped up its efforts to crack down on Bitcoin mining and trading, sending the digital currency tumbling. A State Council committee led by Vice Premier Liu He announced the efforts late on Friday – the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70 percent of the world’s crypto supply. Crypto miners use increasingly powerful, specially-designed computer equipment, or rigs, to verify virtual coin transa...

After Beijing stepped up its efforts to crack down on Bitcoin mining and trading, which led to a plunge in digital currencies, cryptocurrency mining operators such as Huobi Mall and BTC.TOP are suspending their Chinese operations. The State Council Committee, led by Vice Premier Liu He, announced the effort late on Friday – this is the first time the council has targeted virtual currency mining, a large Chinese company that accounts for 70% of the global cryptocurrency supply. . Crypto miners use increasingly powerful, specially designed computer equipment or drilling rigs to verify virtual...

Spend a few minutes in reddit forums or on Twitter or TikTok or wherever you find your early crypto believers and you’ll quickly get the sense that they...

The cryptocurrency market nursed its wounds Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible US tax clampdown. If that wasn’t enough, Bitcoin believers are still fuming after onetime proponent Elon Musk did an about-face and criticized the token for its energy usage. Bitcoin fluctuated around $40,000 in Asian trade, down about 9 per cent on the week though up from a Wednesday plunge toward $30,000. Other coins have slumped too, such as Ether’s 17 per cent weekly nosedive. The sour stretch for digital tokens started with Tesla Inc...

China Hammers Bitcoin Anew With Warning on Miner Crackdown Bloomberg 1 hr ago (Bloomberg) -- Bitcoin resumed its selloff Friday after China reiterated a warning that it intends to crack down on cryptocurrency mining as part of an effort to control financial risks. The largest digital currency fell 6.6% to $37,451 as of 12:41 p.m. in New York. The statement Friday after a meeting of the Financial Stability and Development Committee provided the latest blow in a rough week for the cryptocurrency market, rattled by forced selling and a possible U.S. tax clampdown. China has long expressed dis...