Chinese miners are unable to sell cryptocurrencies and pay for electricity due to government pressure on the OTC market
According to Beijing journalist Colin Wu, due to the freezing of OTC traders’ accounts, 74% of local miners faced problems paying their electricity bills. Chinese media reported blocking bank accounts and cards used to buy cryptocurrencies back in June. Due to the growing scale of illegal use of digital assets, regulators in China have begun to pay increased attention to over-the-counter (OTC) platforms. The authorities have launched investigations into the owner of the RenrenBit OTC…
