Crypto Mining May Become China's Next Major Regulatory Target

Abstract : With the help of Tesla CEO Elon Musk and others, the bubble got bigger and bigger and was overdrawn early.

ChainDD
ChainDD

May 27

March 26 (ChainDD) According to the Economic Information Daily, industry analysts pointed out that the "carnival" of the entire cryptocurrency market, including Bitcoin, benefited from the loose policies introduced by many countries to deal with the epidemic and revive their economies. With the help of Tesla CEO Elon Musk and others, the bubble got bigger and bigger and was overdrawn early.

With the return of the risk of speculation, it is high time for regulation to strike a heavy blow to prevent the spread of financial risks. The manic "virtual currency" market has shown clear signs of cooling as regulators move in to protect investors. Mining, which is considered wasteful of energy, and leverage, which further magnifies risk, are likely to be among the priorities of the next regulation.

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