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F2Pool bans Chinese Bitcoin miners as crypto clampdown intensifies By BTC Peers

by Mike Robinson

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© Reuters. F2Pool bans Chinese Bitcoin miners as crypto clampdown intensifies

F2Pool, the world’s largest mining pool, has started banning Bitcoin miners from mainland China.

8BTCnews in China reports that Chinese customers may have their accounts closed or suspended.

The decision of the mining pool is clearly linked to China’s renewed efforts to crush cryptocurrency mining and trading. Following months of trying to stifle the sector’s growth by cutting power supply to mining facilities and shutting down crypto businesses, the People’s Bank of China declared last week that all business activities related to cryptocurrencies are illegal.

F2Pool, which was established in 2013, is the oldest Bitcoin mining pool. The largest BTC mining pool with 20.98% is F2Pool.

Industry observers claim that this is so far the government’s harshest crypto ban to date. Numerous crypto companies have taken steps to limit or shut down their China operations since the announcement. On Sunday, crypto exchange Huobi announced that its users in mainland China would be “gradually retired” by the end of the year. Similarly, one of the world’s leading mining pools, Sparkpool, has terminated its local and international Ethereum mining pool services after announcing last week that it was halting services for Chinese customers.

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