Cryptocurrencies fell today after China’s campaign against bitcoin diggers expanded to Sichuan Province, Reuters reported. Sichuan is the Chinese province with the second largest “extraction” of cryptocurrencies.
As a result of this campaign bitcoin fell to $ 32,288 – at least from January 8, adds BTA.
The smaller digital currency ether traded below $ 2,000 for the first time since May 23, before reducing its losses to 10 percent at a rate of 2019.01 dollars.
China’s restrictive campaign
Cryptocurrency digging is a big business in China, which accounts for more than half of the world’s digital mining.
Last month, however, the Chinese government launched a campaign against “digging” and trading cryptocurrencies as part of a series of measures to limit financial risks.
Over the weekend, the campaign also reached Sichuan Province, where it was ordered to suspend cryptocurrency mining projects at the main center for these activities. In other regions, where “digging” is as popular as Inner Mongolia, the reason for the measures against the sector was that “diggers” use large amounts of energy from polluting sources such as coal. In Sichuan, however, hydropower is mainly used.
Meanwhile, it became clear today that the Spanish bank Be Be Ve A (BBVA) launches commercial bitcoin services for all customers of its private banking in Switzerland.
The bank will offer the opportunity to trade in bitcoin and depository services. The goal is to expand the platform to other cryptocurrencies, although Be Be Ve will not offer advice on this type of investment.
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