David Fickling, Columnist

Why Bitcoin and Xinjiang Will Struggle to Quit Each Other

Beijing wants prosperity to help quell political and social unrest in the vast western region. Coal-powered crypto is an easy way at it.

May 31, 2021 at 12:00 AM UTC

By David Fickling

David Fickling is a Bloomberg Opinion columnist covering climate change and energy. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times.

Power to the crypto!
Photographer: Xinhua News Agency/Xinhua News Agency

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Remember when China banned cryptocurrencies?

We’re not talking about what happened last week, when a meeting of a governing State Council committee chaired by Vice Premier Liu He promised to crack down on Bitcoin mining and trading, prompting a 16% three-day fall in the digital token.