(AF) Cash-strapped Laos hopes to profit from China’s ban on crypto miners with a new measure that seeks to make the Indochinese nation the digital currency hub of Southeast Asia, the Financial Times reported.
In a U-turn after the communist country’s central bank warned against volatile market activities, authorities in Vientiane granted licences to six companies to mine and trade cryptos, the report stated. An abundance of hydroelectric power is expected to make mining more affordable and help lure participants shut out of China, it added. Full report: Financial Times