Prepping for a Cryptocurrency World: China Edition
was a advertising year for the cryptocurrency industry with all the attention and growth it has achieved. The extreme value volatility forced the Central bank to follow more serious steps, like the ban of original coin products (ICOs) and clampdowns on domestic cryptocurrency exchanges. Immediately after, mining factories in China were forced to shut down, citing exorbitant electricity consumption. Many transactions and factories have shifted overseas to prevent regulations but stayed accessible to Asian investors. However, they still fail to escape the claws of the Chinese Dragon. In the latest series of government-led initiatives to check and bar cryptocurrency trading among Chinese investors, China lengthy its "Eagle Vision" to check foreign cryptocurrency exchanges. Organizations and bank reports suspected of holding out transactions with international crypto-exchanges and connected activities are put through steps from restraining withdrawal limits to cold of accounts....