in

Mongolia Becomes First Chinese Province to Issue Enforcement Against Bitcoin Mining

Bitcoin Price Surge Behind Rising Interest in Digital Yuan: PBOC


The Inner Mongolian province of China has become the first in the country to introduce enforcement measures against heavy Bitcoin mining in the region after the central government called for a crackdown on Bitcoin mining in the country last week. While the Chinese government’s crackdown on crypto trading and mining is nothing new, the industry insiders indicated that the measures could go beyond verbal warning this time owing to Beijing’s commitment to carbon neutrality.

Inner Mongolia is one of the most popular regions in China for Bitcoin mining because of which the province failed to meet its carbon emission goals. The province’s local government had earlier announced that they would bring in regulations to prohibit any form of industrial mining in the region including Bitcoin mining or operations of metal plants.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Coinbase stock price: Goldman Sachs expects +35%

Coinbase stock price: Goldman Sachs expects +35%

Can ADA Bulls Regroup to Break Resistance at $1.6?

Can ADA Bulls Regroup to Break Resistance at $1.6?