China tightens ban on crypto, El Salvador prepares for BTC mining and Bitcoin in US reserves?

China-FUD leads to blocked Bitcoin-websites

Last week, Bitcoin faced FUD again: China published documents in which it stated their point regarding the cryptomarket. Although it seemed to be nothing new, some Chinese companies are changing their policies regarding Bitcoin.

Three most popular crypto market data sites have now become inaccessible for users based in mainland China.

CoinGecko, CoinMarketCap and TradingView are currently all blocked by China’s internet firewall, according to tests run by The Block. Search results on Greatfire.org, an online tool for checking sites censored by China’s Great Firewall, also show that the three sites are 100% blocked as of press time.

Also Alibaba bans the sale of Bitcoin mining rigs because of the document which is published by the Chinese central bank. Everyone who wants to sell this on their platform after the 15th of October, will be fined.

Source: The Block

El Salvador prepares for Bitcoin mining

Salvadoran President Nayib Bukele shared a video showing the apparent progress of the country’s Bitcoin (BTC) mining plant powered by volcanic geothermal energy.

The video shows an overview of a power generation facility, with technicians enabling crypto mining rigs.

The president does not explain much on the process shown on the video, only writing “first steps”. It’s the first since early June that he refers to the geothermal mining. Back then, he addressed the point of ‘national clean and free bitcoin mining’ in a Twitter Spaces-chat.

US Senate candidate calls for national Bitcoin strategy

US Senatorial candidate Blake Masters has called on the US government to take the opposite path of the Chinese government and buy a strategic Bitcoin reserve. The aspiring senator also hinted that his campaign has begun accepting donations in BTC.

Masters called on the US to “buy a strategic reserve of Bitcoin — Fort Nakamoto, the new Fort Knox”.

The US stores a large portion of its gold reserves at Fort Knox and this golf around 4,500 metric tons of gold with a market valuation of $290 billion. The call for America to buy a strategic reserve of Bitcoin stems from the need of the country to respond strongly to China’s move in banning cryptocurrencies.

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