The largest Ethereum mining pool SparkPool has announced that it will stop serving users from China. This is stated on the site.
? “In order to comply with the latest regulatory requirements, Xinghuo Mining Pool has decided not to provide mining pool services to users in mainland China,” the company said.
SparkPool representatives promised to publish a plan for shutting down services and actively cooperate with supervisory authorities.
?On September 24, it became known about the next repressions of China against the cryptocurrency industry. The State Committee for Development and Reforms of the PRC pointed to the negative impact of mining on the environment and its “insignificant” contribution to the country’s economy.
The People’s Bank of China (PBOC) described the illegal activities of platforms that exchange digital assets between themselves or for fiat. Prior to that, Wen Xinxiang, director of the NBK’s payments and settlements department, called cryptocurrencies and stablecoins a threat to the traditional financial system.
Earlier, Circle CEO Jeremy Allair urged the United States and Western countries not to be like China in regards to cryptocurrency regulation.