What is the bitcoin ban?

The ban is a government response to the growing local bitcoin scene drawing resources from the country. The motivation for the ban is said to be to protect against capital outflow, reduce demand for energy on their grid, and reduce the need for mining equipment production.

Will New York ban bitcoin mining?

Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it.

Why did China ban bitcoin mining in 2021?

2021 marked the year of the significant bitcoin mining migration, as China called for a mining ban. The ban is a government response to the growing local bitcoin scene drawing resources from the country.

Is bitcoin illegal in Vietnam?

The State Bank of Vietnam has declared that the issuance, supply, and use of Bitcoin and other cryptos are illegal as a means of payment and are subject to punishment of fines ranging from 150 million VND (€5,600) to 200 million VND (€7,445). However, the government doesn't ban Bitcoin trading or holding them as assets.