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Shanghai Man: Bitcoin interest drops in China amid crackdown on social media and miners

June 11, 2021. Summarized by summa-bot.

Compression ratio: 20%. 1 min read.

Interest in Bitcoin wanes on social media as major websites Baidu and Weibo comply with regulators and companies look abroad to continue their operations

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

On June 9, a district government in western Xinjiang issued a "notice to immediately suspend virtual currency mining enterprises. " The report announced that companies engaged in digital currency mining must halt production by 2PM on June 9 and report the suspension to a local reform commission.

Alibaba has come under the microscope back in China for it lending practices, so it’s no surprise that Alibaba and other Chinese companies might want to diversify their financial offerings in other regulatory regions.

China technology experts Winston Ma and Paul Schulte covered a number of topics including blockchain, central bank digital currencies and even some more controversial geo-political issues.

by summa-bot

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