{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"'No way back' from China's bitcoin mining clampdown, says The Block's Wolfie Zhao","html":"","width":"100%","height":180,"duration":1779,"description":"China banning bitcoin has happened so many times it’s become a meme at this point.\nBut with this latest crackdown on China-based miners, there might be no coming back, says The Block’s Wolfie Zhao.\n“I think the crackdown on bitcoin mining has never been serious. There were a lot of talks in 2018-2019 but there wasn't anything seriously enforced. But this time it seems like there's no way to go back.”\nOn the most recent episode of The Scoop, Wolfie Zhao, Asia Editor at The Block, explained to host Frank Chaparro how the most recent ban is tied to sustainability concerns within the government. \nAs Zhao put it:\n“So there is the financial side that is cracking down: Banks are cutting funding channels for OTC desks. The other side is the energy angle, which is cracking down on bitcoin miners. That’s why we see Shenzhen shutting down power supplies to bitcoin mining farms… So obviously when the state council made the comment about cracking down on Bitcoin mining, they didn't say we're just going to crackdown on big companies that are using fossil fuel power.\"\n\"They just said we want to crackdown,\" Zhao continued. \nZhao and Chaparro also explore: \n\nThe impact of the Chinese miner exodus on the bitcoin network\n\nHow one region tried to buck the broader crackdown\n\nWhy the US now has a better business environment for bitcoin miners\n\nThe biggest misconceptions about bitcoin mining in China \n\nWhy the mining crackdown is not just an ESG issue\n\n\nFor a detailed timeline of China’s crackdown on mining, check out Zhao's full report.\n\nEpisode 38 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and The Block's Asia Editor Wolfie Zhao. \nListen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Eventus, Kraken, and Exodus\nEventus is the leading global provider of multi-asset class...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}