Anson Chan for BI
China used to be the crypto capital of the world. Thanks to the cheap energy and friendly regulations, mining companies flocked to set up shop in a country reluctantly playing host to the energy-intensive process of creating coins and validating transactions. In 2019, despite some regulation and a ban on initial coin offerings years prior, China's leader, Xi Jinping, called for widespread implementation of blockchain technology to support the country's quest for secure and reliable data systems...