China’s crackdown on bitcoin mining is getting real ...Middle East

Quartz - Economy
China’s crackdown on bitcoin mining is getting real
source : Quartz ( Middle East ) () 5
After barring the use and trading of cryptocurrency, Beijing has indicated that it will turn next to cryptocurrency mining.China’s vice-premier Liu He last Friday said the government would clamp down on bitcoin mining and trading to achieve financial stability but stopped short of revealing specific policies. This week, Inner Mongolia, an autonomous region in northern China, issued draft guidelines on its plans to ban crypto mining, offering the first details about how authorities intend to execute this latest stage of the crypto crackdown.Under the rules, big data centers and cloud computing firms will see preferential policies from the government withdrawn, while telecommunication companie

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