This website uses cookies to ensure you get the best experience on our website

Hebei Banning Bitcoin and Cryptocurrency Activities


The Hebei cyberspace commission, an agency in one of China's expansive provinces, has banned Bitcoin and cryptocurrency mining activities, including trading, within its jurisdiction. 

According to a Reuters report, these activities obstruct China's environmental conservancy efforts. Reports indicate that the commission has urged other organs, including stakeholders in education, public security, and others, to participate in the crypto crackdown. Officials representing the above government institutions would have to ensure that none of its system support is part of a crypto activity or operation by the end of the month.

The province joins many others, including Sichuan and Inner Mongolia, who banned cryptocurrency mining operators, causing the Bitcoin hash rate to plunge.

Even so, the banning of cryptocurrency mining has seen Bitcoin become more distributed and thus robust. Unlike before, most Bitcoin mining farms were located in China, taking advantage of low electricity rates and the location of chipset manufacturers like Bitmain.

Due to China's position on cryptocurrencies, there has been a drastic reduction in nodes. Most Bitcoin operations are from Germany, the wider E.U., and the United States.


For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020