Bitcoin (BTC) miners in China are about to face hasher crackdowns

Bitcoin (BTC) miners in China are about to face hasher crackdowns
фото показано с : invezz.com

2021-5-26 11:15

China is making its sanctions on Bitcoin miners even tougher after its Inner Mongolia regional government set out more stringent punishment for violators.

On Tuesday, the Inner Mongolia, National Development and Reformation Commission (NDRC) issued a proposal, outlining 8 areas that are perceived as illegal for crypto mining activities.

This is coming barely a week after the Chinese government hinted that it will start a massive crackdown on Bitcoin mining activities.

A plot to reduce the environmental impact of Bitcoin mining

According to the earlier notice, the Chinese government says it is intensifying efforts to ban mining operations in the country due to its environmental implications. It said the extreme emission of carbon through crypto mining is in direct contrast with the country’s goals of reducing carbon emissions.

The NDRC has opened its portal for public comments about the guideline from May 25 to June 1 before the final decision is taken.

Heavy impact on crypto prices

Last week, the crypto community in China was put in a frenzied state after Chinese Vice Premier Liu He announced that the government is looking to crackdown on Bitcoin trading and mining.

He stated that the reason was to prevent the “transmission of individual risks to the social field.”

The comments were in line with China’s intentions to speed up its four-year crackdown on Bitcoin trading and related activities.

But the latest draft proposal by Inner Mongolia is specifically directed at internet and telecommunications companies that engage in virtual currency mining. According to NDRC, if such companies are involved in crypto mining, they could lose their business license in the country.

The situation in China has also affected the price of Bitcoin (BTC/USD), as the world’s most valuable cryptocurrency has shed more than 30% after the Vice Premier’s announcement.

The post Bitcoin (BTC) miners in China are about to face hasher crackdowns appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Miners' Reward Token (MRT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0062782 (-100%)

mongolia inner bitcoin miners china tuesday commission

mongolia inner → Результатов: 33


Фото:

China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year

Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency. Regulating the Electrical Consumption in Inner Mongolia The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel […]

2021-3-3 20:00


Более 20 майнинговых ферм во Внутренней Монголии лишились субсидий на электроэнергию

Департамент промышленных и информационных технологий автономного района Внутренняя Монголия (Китай) 24 августа потребовал от Inner Mongolia Power Group, государственной компании по торговле электроэнергией, приостановить обслуживание 21 майнинговой фермы.

2020-8-28 16:04


Фото:

China’s Inner Mongolia to Drive Out Cryptocurrency Miners

Authorities in China’s autonomous region of Inner Mongolia released a notice requiring local cryptocurrency mining firms to stop their operations, according to ChainNews. Is Inner Mongolia Starting a Trend Among China’s Authorities? China has enjoyed that status of the world’s hub for cryptocurrency mining since it hosts a good share of crypto miners who’re looking for cheap electricity.

2019-9-16 16:00


В одном из автономных районов Китая ограничат криптовалютный майнинг

Власти Внутренней Монголии решили ограничить криптовалютный майнинг на территории этого автономного района КНР. Об этом сообщает управляющий партнер фирмы Primitive Ventures Дови Ван со ссылкой на местные СМИ.

2019-9-14 18:13