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China’s Inner Mongolia to end cryptocurrency mining, ban new steel, coke projects

China‘s Inner Mongolia to end cryptocurrency mining, ban new steel, coke projects



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4 Comments

  1. Emission-limiting laws are actually a big area where I’m worried crypto will have a hard time dealing with it. We really need to work on the energy consumption issue

  2. Sadly I think this censorship/banning will keep happening. With the news about India banning crypto and now this we are going into the direction of governments banning them or heavily restricting them – and this is exactly the reason why crypto has to grow and expand, these governments are scared of crypto.

  3. tldr; China’s Inner Mongolia will end all cryptocurrency mining projects and stop reviewing new projects in industries which consume large amounts of energy, as it attempts to meet energy efficiency targets. The region was the only one of 30 mainland areas under Beijing’s energy consumption and energy intensity review that failed to meet the targets in 2019. It aims to cap energy consumption growth at around 5 million tonnes of standard coal equivalent in 2021.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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