The Chinese bitcoin mining pool ViaBTC is beginning the procedure of closing its cloud mining contracts.
The ViaBTC mining pool posted information on its website about the cessation of cloud mining activities and asked its users to complete transactions as quickly as possible. The company assured its customers that the closure of contracts will not affect payments, which will be distributed to wallets at 00:00 the next day.
The developers explain their decision to close mining contracts from January 10 with the desire to protect the interests of investors from possible speculation.
Since November 2016, ViaBTC has been working fruitfully in the field of cloud mining, which allowed users to enter into contracts for the use of ViaBTC hashing power. But, today, the company’s management is considering an exchange format; we previously reported on the development of a new cryptocurrency exchange from ViaBTC.
Whether there is a connection between the change in the activities of ViaBTC, from the mining pool towards the cryptocurrency exchange, and the current activities of Chinese regulators is not known.
According to www.coindesk.com
You May Also Like
Huobi recognizes Bitcoin Cash ABC as a true fork
Last week, immediately after the Bitcoin Cash (BCH) hard fork, it was too early to say which fork would become dominant. Large exchanges have stopped trading Bitcoin Cash until the chain split is assessed by experts and, having divided the BCH balances into two new assets, took a wait-and-see approach.
A cunning trader trades with himself on the Bithumb exchange
Alex Kruger, an economist and cryptanalyst, recently discovered that one user of the Korean exchange Bithumb has been creating $250 million in “fake volume” on the exchange every day since August 25th.
