China came up with a new way to crack down on cryptocurrency
The government promises to raise the price of electricity for companies that ignore the ban on mining

17.11.2021 - 13:15
396
1 min
0
What’s new? The Chinese authorities plan to introduce new measures to crack down on cryptocurrencies. The government warns state-owned enterprises against mining digital assets, promising to raise the price of electricity for companies that ignore the ban on mining. This is reported by the Bloomberg news agency.
What do regulators say? Meng Wei of the National Development and Reform Commission called mining a harmful practice that has become an obstacle to the country's carbon reduction. She noted that cryptocurrency mining is characterized by high energy costs. Wei described the industry as disorderly, explaining that it comes with certain risks. According to her, the commission will soon begin a full-scale crackdown on cryptocurrency mining in the country.
What had happened before? In September, the People's Bank of China announced that cryptocurrency-related activities were banned in the country. The exchange of fiat currency for virtual currency and transactions between digital assets have been made illegal in China. Intermediary services for cryptocurrency transactions are also banned.
Useful material?
Technologies
The platform intends to overcome this milestone without compromising decentralization
Mar 30, 2023
Trends
Their sale will be carried out by Samolet Group through the Atomyze platform
Mar 30, 2023
Politics
This slogan is part of Elizabeth Warren’s election campaign
Mar 30, 2023
Incidents
According to Kaspersky Lab, about 16 000 users of digital assets have been affected by the malware
Mar 30, 2023
Incidents
According to him, an unknown company links this data to transactions and wallets for identification
Mar 30, 2023
Market
Starting 07:30 UTC on March 30, trading in pairs with bitcoin, USDT, and TUSD is available on the platform
Mar 30, 2023