SHORT BTC / USDT

China may concentrate most of the world's cryptocurrency mining, but it is increasingly hostile to these digital assets.

"It's doomsday for crypto commentators," warns a commentator who calls herself "Woman Dr. bitcoin mini" on Weibo (a Chinese microblogging site). In recent days, several accounts of influential Chinese figures in the crypto sphere have been blocked. The offensive appears to have started on June 6, notes The Guardian. During the weekend, several profiles such as that of Woman Dr bitcoin became inaccessible. People who attempt to access them now only see a message saying that this account is "against the law."

These measures may seem surprising. China is indeed the most active country when it comes to crypto: this is where 75% of bitcoin mining activity takes place. These restrictions are, however, only the most recent step in a much larger Chinese-led offensive against cryptocurrencies.