Spark Pool, the largest Ethereum mining pool that accounts for 25% of the network’s total hashrate notification that they will no longer provide services to miners in mainland China.

The company said the need to comply with the latest regulatory guidelines was the reason behind the decision to close the country. Specific decommissioning plans will be announced in the near future.

( Ethereum mining) Pool said it will be actively working with the relevant departments on monitoring activities.

Yesterday, Bitcoin magazine reported that China continues to maintain its hostile stance towards the crypto industry, with the PBoC announcing that all crypto-related dealings are illegal.

The agency will also step up ongoing crackdown on the once thriving cryptocurrency mining sector in the world’s most populous country.

Following the announcement, the crypto market collapsed, with Bitcoin slipping into the $ 41,000 region and falling and Ethereum hovering around $ 2,800, still more than 6% in the past 24 hours. The entire market is still in the red today.

Source: Coin360

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