IBC GROUP

IBC Group to end Bitcoin and Ethereum Mining in China, and Move Staff to UAE, Canada, USA, Kazakhstan, Iceland, and Various South American Countries

Retrieved on: 
Monday, July 5, 2021
Cryptocurrencies, Payment systems, Cryptography, Blockchains, Bitcoin, Digital currencies, Money, Decentralization, Ethereum, Legality of bitcoin by country or territory, Bitcoin Cash

TORONTO, July 5, 2021 /PRNewswire/ --The IBC group has significant Bitcoin and Ethereum mining operations across China and has over 1500 people employed in more than 40 cities.

Key Points: 
  • TORONTO, July 5, 2021 /PRNewswire/ --The IBC group has significant Bitcoin and Ethereum mining operations across China and has over 1500 people employed in more than 40 cities.
  • The group plans to move its staff to UAE, Canada, USA, Kazakhstan, Iceland, and various South American countries.
  • The State Council of the People's Republic of China declared its intention to shut down Bitcoin mining and trading to 'control financial risks', in May 2021.
  • More recently, the PBOC also made statements against the speculative trading of cryptocurrency, further accelerating the crackdown.