ET Spotlight SpecialET Spotlight SpecialChina’s latest blanket ban did send the crypto space in a tizzy for a while. But then, don’t we already know that Bitcoin and Altcoins are particularly good at ‘bouncing back’.Speculations and possibilities aside, China’s crypto crackdown in 2021 has been rather uncompromising. As much as this sounds remotely possible, there is a bit more to it.China’s widening crypto ban can be attributed to a host of reasons. For now, China is justifying its stance to put a tab on the surging electricity consumption resulting from crypto mining. This is exactly what we are expecting even in the months to come, which might be instrumental in driving the Indian crypto renaissance.Honestly, it is difficult to regulate something as innovative as cryptocurrency.

Source: Economic Times November 14, 2021 03:07 UTC