Mongolia Becomes First Chinese Province to Issue Enforcement Against Bitcoin Mining
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.
Breaking: After Beijing requested a crackdown on Bitcoin mining on May 21, the first enforcement measures have just been officially introduced and come from Inner Mongolia. https://t.co/lPF6YoTYmm pic.twitter.com/9QU1skAO7I— Wu Blockchain (@WuBlockchain) May 25, 2021Buy ETH with up to 50% discount! ->Sponsored
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.Source