China warns state-owned companies to stop participating in Bitcoin mining

China is putting pressure on its own state-owned enterprises to stop mining cryptocurrency, and the government is considering severe penalties for companies that continue to mine cryptocurrencies, including raising energy costs.

according to reportNational Development and Reform Commission (NDRC) spokesperson Meng Wei said at a press conference that, as China’s top economic planner, the National Development and Reform Commission intends to supervise industrial-scale Bitcoin mining and the participation of state-owned enterprises in this activity. According to reports, the National Development and Reform Commission, which is responsible for mining policy formulation, recently organized a special meeting on this topic. It has also increased the pressure on provinces and cities to investigate and clean up mining state-owned enterprises.

The Chinese government has adopted Stern stance on Bitcoin miners Blame everything on them in 2021 From energy waste Cause a fatal coal mine accident because it strives to achieve its carbon neutral goal.

this Increase the crackdown on miners According to sources, September was triggered by concerns about the country’s winter power supply, which is one of the reasons why the authorities are pursuing those who try to impersonate data researchers and storage facilities to continue mining digital assets.

According to Cointelegraph, China fired a former Jiangxi government official According to a statement issued by the Central Commission for Discipline Inspection on Monday, he was found to have violated national standards after mining virtual currency. According to preliminary investigation results, Xiao Yi was accused of abusing his power, promoting and supporting companies engaged in virtual currency mining activities that violate government regulations, and accepting bribes.

Newest The Chinese government cracks down on cryptocurrencies Forcing the emerging cryptocurrency industry, including Bitcoin (BTC) and crypto miners and exchanges, to move to countries with crypto-friendly regulations.Some of the companies that have left China looking for more relaxed regulators include Huobi, Binance, and Bitmain.