CryptoQuant founder Ki Young Ju has sparked controversy by claiming that China controls 55% of the Bitcoin network hashrate. But this misses an important point about miner distribution.
- Mining pools like Antpool and F2pool are headquartered in specific countries, but miners are distributed around the world.
- In August 2024, two US pools, MARA and USA Foundry, mined 33.6% of all blocks.
Are Chinese authorities hinting at a change in crypto policy? 🧐
- In 2021, China banned cryptocurrencies, but in 2024, rumors emerged that the ban might be lifted.
- In January 2024, China announced new anti-money laundering legislation that will go into effect in 2025.
- Recently, the Legislative Affairs Commission of China was considering revising the rules to monitor new financial technologies.
Stay informed, the cryptocurrency market remains volatile!