Cryptocurrency

Coin

<ul> 
 <li>Chainalysis reported that Eastern Asia accounts for 8.8% of global crypto activity.</li> 
 <li>Since China banned crypto mining and trading, crypto activity in the region has declined.</li> 
 <li>Chinese investors’ influx into Hong Kong hasn’t changed China’s stance on crypto.</li> 
</ul> 
Blockchain data platform Chainalysis’ <a href="https://t.co/ttpYQFnLrS" target="_blank" rel="noopener noreferrer nofollow">recent report</a> shows that crypto activities in Eastern Asia have reduced significantly over the years. As per the report, the region that once held a larger share of the crypto market now accounts for 8.8% of global crypto activity over the past year. 
In particular, the report placed East Asia as the world’s fifth most active crypto market. While noting its descent over the years, the report stated that the drop in market share started after stricter crypto regulations in the region. 
Notably, the report stated that <a href="https://coinedition.com/chinas-crypto-crackdown-fails-as-binance-records-90b-trading/" rel="noopener noreferrer nofollow">China’s ban</a> on several forms of crypto-related activities played a key role in this decline. In what spans as far back as 2013, the Chinese government in 2021 placed a permanent ban on crypto mining and trading. Before that, the country had seen a surge in crypto-related activities. 
Despite that, the report mentioned that the <a href="https://coinedition.com/china-cracks-down-on-people-exploiting-filecoin-blockchain-rewards/" rel="noopener noreferrer nofollow">strict clampdown on cry…</a> 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/chinas-cryptocurrency-ban-continues-to-hurt-eastern-asia-report/">China’s Cryptocurrency Ban Continues to Hurt Eastern Asia: Report</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

China’s Cryptocurrency Ban Continues to Hurt Eastern Asia: Report

Coin Edition

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