As the saying goes "one man's trash is another man's treasure", China has kicked out 90% of Bitcoin miners, but the rest of the world seems to be benefiting from the move. Kazakhstan is now reaping the benefits of crypto miners fleeing China, while Beijing continues to lose revenue and vital technology.
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Belarus Central Bank is imposing new restrictions on foreign currency transactions in response to EU sanctions. Such a move could create complications for citizens and push them to seek alternatives such as cryptocurrencies.
There is an opinion that the Chinese ban is actually good for the bitcoin price in the long run. The ongoing crackdown on bitcoin mining and trading could boost bitcoin and other cryptocurrencies in the future.
Iran has long been known as a crypto-friendly nation, but in the recent past it has changed its view towards this emerging industry. Currently, authorities in Iran are in the process of arresting bitcoin and cryptocurrency miners on a large scale. The move is a threat to the entire cryptocurrency industry as it cripples its planned growth.