Will mining in China reach a new level thanks to Taiwan?

  • Ultramining.com
  • 22:30 Oct 30, 2022
  • 242
Will mining in China reach a new level thanks to Taiwan?

Arthur Hayes, the former CEO of BitMEX, said that China will become an even bigger player in the world of digital assets. All thanks to Taiwan. The specialist published this thought in his Twitter account.

According to Hayes, the "Middle Kingdom" is already trying to regain its status as a leader in the world of mining. To prove his words, he cites media reports in Hong Kong that the Securities and Futures Commission (SFC) is seeking to relax requirements that relate to operations with virtual coins.

Hayes does not unreasonably see Hong Kong as a region that allows China to connect with the rest of the world.

Recall that crypto mining is completely banned in the "Middle Kingdom. This has caused people who mine virtual coins to migrate to other countries that are more favorable to this process.

Nevertheless, according to data provided by the Cambridge Centre for Alternative Finance, China remains in second place among the states for BTC mining.

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