Sparkpool will stop serving Chinese miners – Bits Media

Sparkpool, one of the largest Ethereum mining pools, has announced, that the pool will stop serving miners from China. This decision is due to the pressure of the regulators of the Middle Kingdom.

Yesterday the People's Bank of China (NSC) published the document, which expanded A ban on transactions with cryptocurrencies for business and recognized them illegal financial activities. Looks like, The leadership of Sparkpool decided not to wait for the attention of the regulators and announced the cessation of miners from China.

At the moment, it is SparkPool, whose headquarters is located in the Chinese city of Hangzhou, It is the largest mining bullet for the extraction of the Ethereum - miners are connected to it, generating about 20% Hashrate network of the second cryptocurrency.

The Chinese authorities banned cryptocurrencies in the country this summer, which led to the "great outcome" of miners from China. At the same time, the NBK recognizes, that there are quite a lot of small mining farms in the country:

“Bannies on large -scale centralized mining operations were successful, But now mining has changed, farms became small and decentralized, What makes their detection more complicated. We are working on a long -term mechanism to detect such farms together with many ministries ".

Earlier, Director of the Department of Payments and Settlements of the NBK Ven Sinsyan (Wen Xinxiang) He expressed concern about the growing popularity of cryptocurrencies and stablecoins. In his opinion, Digital assets can threaten the traditional financial system.