It all began with China in 2021 when a total crackdown was issued in China. Recently, there are calls for rebranding of the bitcoin mining process . This is necessary because of the danger in the Carbon emissions from the bitcoin mining.
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No, the mining ban was in 2021. They banned cryptocurrency exchanges in 2017.China banned Bitcoin mining on different occasions not only in 2021, it seems that they did it more to manipulate the market than because of carbon emissions,
(emphasis mine)World Economic Forum said:Meanwhile, in 2017, the PBOC banned the operations of cryptocurrency exchanges within China. (The 2017 ban did not go so far as to forbid the ownership or mining of cryptocurrency, which the 2021 ban finally prohibits.) Although China did not cite capital flight as a reason for its cryptocurrency restrictions in 2017, Chinese authorities did place additional restrictions on overseas investments by Chinese companies that same year. In some ways, the 2017 restrictions on cryptocurrency exchanges in China can be seen as the harbinger of the subsequent tightening of outward investment of Chinese companies that year.
The Wall Street Journal said:Almost two years later, users traded $90 billion of cryptocurrency-related assets in China in a single month, according to internal figures viewed by The Wall Street Journal and current and former employees. The transactions made China Binance’s biggest market by far, accounting for 20% of volume worldwide, excluding trades made by a subset of very large traders.
China’s importance for Binance is openly discussed internally, according to the current and former employees. And despite the ban, the exchange’s investigations team works closely with Chinese law enforcement to detect potential criminal activity among the more than 900,000 active users in the country, according to some of the current and former employees.
Reuters said:China's National Development and Reform Commission said it will work to cut off financial support and electricity supply for mining, which it said spawns risks and hampers carbon neutrality goals.
Right, it was in 2021, I just recap, in fact what I was thinking about is what happened in 2014, and I associated it with China and the ban i don't know why, but what happened was the fall of the cryptocurrency exchange MT.gox, thanks for the correctionNo, the mining ban was in 2021. They banned cryptocurrency exchanges in 2017.