Reflecting on the ban's historical context, China initiated tightening measures on cryptocurrencies in 2013, progressively restricting the involvement of financial institutions. The crackdown escalated in 2017, primarily focusing on curbing enticing initial coin offerings (ICOs), suggesting a determined effort to isolate the crypto realm.
Recently, China's Central Television network sent shockwaves through the financial world by announcing that retail investors in Hong Kong can once again venture into the thrilling realm of Bitcoin. This development is a significant twist, considering the momentous event when China banned Bitcoin mining, which had seismic effects on the industry.
However, an intriguing possibility arises—imagine the colossal impact if mining activity were to resume in the land of the dragon! Miners promptly found new territories, leading to a remarkable rebound in Bitcoin's total hash rate, displaying unprecedented strength.
Recently, China's Central Television network sent shockwaves through the financial world by announcing that retail investors in Hong Kong can once again venture into the thrilling realm of Bitcoin. This development is a significant twist, considering the momentous event when China banned Bitcoin mining, which had seismic effects on the industry.
However, an intriguing possibility arises—imagine the colossal impact if mining activity were to resume in the land of the dragon! Miners promptly found new territories, leading to a remarkable rebound in Bitcoin's total hash rate, displaying unprecedented strength.
