Bitcoin mining in India. Is it possible?
Description
China's crackdown on mining cryptocurrency could be a chance for enthusiasts of electronic currency in India. However, a lack of infrastructure and regulations could hinder these people from being too optimistic.
In May of this year, China has been restricting cryptocurrency mining to cut carbon emissions, stop money laundering, and ensure financial stability. The country has prohibited the payment and banking industry from offering digital coin services, arrested numerous people involved in transactions involving cryptocurrency, and suspended cryptocurrency-related accounts on Weibo.
In India, the cryptocurrency industry is booming. But when it comes down to mining, India remains a bit behind. "As an emerging crypto-market, India hasn't made the same strides to the extent that other countries have because of the uncertainty in regulatory regulations. It's in its early stages," said Nischal Shetty, the co-founder, and CEO of Indian cryptocurrency exchange WazirX.
This episode is also available as a blog post: https://anynft.in/2022/01/23/bitcoin-mining-in-india-is-it-possible/
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