China’s crackdown on the cryptocurrency industry is expected to spur miners to uproot their operations and head abroad. The exodus is seen occurring as China reins in crypto mining, trading and other services. Binance Holdings Ltd, which is the world’s biggest crypto exchange and also runs a major mining pool, is one of those noticing the difference. Binance’s chief executive officer Changpeng “CZ” Zhao said in an interview at the Qatar Economic Forum, Powered by Bloomberg, that his company is seeing a lot of miners moving out of China to other places. China’s moves have injected uncertainty into the cryptocurrency market and helped pull bitcoin down to the lower end of its recent trading r
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