China Remains a Major Player In BTC Mining Industry Despite Crypto Ban

The post China Remains a Major Player In BTC Mining Industry Despite Crypto Ban appeared first on Coinpedia Fintech News

China remains a major player in the Bitcoin mining industry despite imposing a blanket ban on cryptocurrencies in 2021. Over 55% of the Bitcoin mining network is still controlled by Chinese mining pools, according to Ki Young Ju, the founder and CEO of CryptoQuant. China’s surprising dominance over the network comes despite the country’s blanket ban on Bitcoin mining and trading, which went into effect in 2021. China is planning a significant amendment to its Anti-Money Laundering (AML) regulations in 2025, expanding them to cover cryptocurrency transactions in response to growing demands for more stringent oversight.