China broadens crackdown on crypto mining industry ...Middle East

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China broadens crackdown on crypto mining industry
BEIJING: China has broadened a crackdown on its massive cryptocurrency mining industry with a ban on mines in a key southwestern province.Chinese mines power nearly 80 percent of the global trade in cryptocurrencies despite a domestic trading ban since 2017, but in recent months several provinces have ordered mines to close as Beijing turns a sharp eye to the industry.Authorities in the province of Sichuan ordered the closure of 26 mines last week, according to a notice widely circulated on Chinese social media and confirmed by a former bitcoin miner.The notice reportedly instructed power companies to stop supplying electricity to all cryptocurrency mines by Sunday.It vowed a "complete clean

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