Bitcoin

The post <a href="https://cryptosnewss.com/chinas-nano-labs-now-accepts-bitcoin-a-sign-of-policy-evolution/" rel="noopener noreferrer nofollow">China’s Nano Labs Now Accepts Bitcoin – A Sign of Policy Evolution?</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.China-based crypto mining chip designer Nano Labs is now accepting Bitcoin as payment for its products through its business account on Coinbase, according to a Nov. 11 <a href="https://www.globenewswire.com/news-release/2024/11/11/2978257/0/en/Nano-Labs-Starts-Accepting-Payments-in-Bitcoin.html" rel="noopener noreferrer nofollow">statement</a>.The firm said it adopted Bitcoin payments in response to increasing demand for digital currency options in the tech world. It added that the payment flexibility is intended to benefit clients and partners, especially as businesses worldwide embrace crypto for streamlined, secure cross-border transactions.Nano Labs said the move positions it favorably to attract a broader audience of tech-forward clients who prioritize flexible, digital payment systems.Nano Labs was founded in 2019 and specializes in fabless IC design. The firm is also focused on developing high-throughput computing (HTC) chips, high-performance computing (HPC) chips, smart network interface cards (NICs), and other advanced computing solutions.Read also: <a href="https://cryptosnewss.com/donald-trump-re-election-fuels-bitcoin-options-trading-surge-to-yearly-high/" rel="noopener noreferrer nofollow">Donald Trump Re-Election Fuels Bitcoin Options Trading Surge to Yearly High</a><h2 id="header-0">Stock performance</h2>In July 2022, Nano Labs raised $50 million to go public in the US. However, the stock has performed poorly since the IPO, falling roughly 95% since it began trading that year.Earlier this year, Nasdaq <a href="https://www.investing.com/news/company-news/nano-labs-regains-nasdaq-compliance-with-market-value-93CH-3659705" rel="noopener noreferrer nofollow">reportedly</a> notified Nano Labs that its stock had fallen below the required minimum market value of publicly held shares (MVPHS) of $15 million over 30 consecutive trading days.The company rectified the issue and met Nasdaq’s requirement by maintaining an MVPHS of $15 million for 10 days by Oct. 9.Nano Labs’ decision to accept Bitcoin may help counterbalance its recent stock performance. This year, <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a>-related stocks of several micro-cap companies like Semler Scientific and Metaplanet have rapidly increased following their decision to adopt the top digital asset.<h2 id="header-1">China’s stance</h2>As a China-based company, Nano Labs’ embrace of Bitcoin may signal subtle shifts in China’s traditionally restrictive crypto policies.Over the past years, China has maintained a stringent regulatory system prohibiting institutions from engaging in crypto transactions and mining activities.Despite these measures, the Asian country remains a major force in the global crypto landscape, controlling over half of the Bitcoin network’s hashrate.Meanwhile, recent calls for a policy reassessment from figures like former Deputy Finance Minister Zhu Guangyao hint that China’s approach to digital currencies may shift in alignment with global trends favoring wider crypto adoption.The post <a href="https://cryptosnewss.com/chinas-nano-labs-now-accepts-bitcoin-a-sign-of-policy-evolution/" rel="noopener noreferrer nofollow">China’s Nano Labs Now Accepts Bitcoin – A Sign of Policy Evolution?</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos News</a>s.

China’s Nano Labs Now Accepts Bitcoin – A Sign of Policy Evolution?

Table of Contents

Cryptos Newss

Other articles published on Nov 12, 2024

Ethereum Foundation (EF) Releases 2024 Annual Report: A Look at its Financial Growth

Beam Chain: Ethereum’s Boldest Upgrade Since The Merge?

UK Government to Launch Digital Bonds within Two Years, Leveraging Blockchain for Faster Trading

Critical Statements from FED Senior Officials – They Also Talked About Cryptocurrencies

3 reasons why Ethereum price is headed toward $4K

The Home Depot (HD) Reports Better than Expected Results in Third Quarter FY’24

Join our free newsletter for daily crypto updates!