Bitcoin

China and Yunnan to inspect Bitcoin mining

According to a news report by a local outlet China Star MarketThe Energy Bureau of China’s Yunnan Province has asked its departments to inspect bitcoin mining companies in the region for illegal activities.

These inspections seek to “vigorously investigate and punish the illegal actions of power generation companies that use generated electricity to power bitcoin mining companies for illegal benefits without permission,” the alert said.

China has been home to varying restrictive measures around bitcoin mining and trading for years. But these regulatory actions escalated recently, after a terrible period statement By the country’s State Council in May.



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