For the most part, China has always been a big player in the bitcoin and crypto communities. The country once accounted for close to three quarters of the world’s bitcoin and crypto mining projects, and the world’s number one digital asset had really made its mark on people of that region.
However, about two years ago, the world was shocked that the nation of China – in compliance with new energy regulations from the capital city of Beijing – announced it was banning all digital currency mining projects to make the country greener and more energy efficient. The nation was seeking new ways to invoke environmentally friendly energy protocols, which meant BTC mining was now going to be out of the picture.
