Caixin
Nov 16, 2021 08:10 PM
FINANCE

China Sketches Out Next Phase in Crypto Mining Crackdown

A worker inspects a Bitcoin mining machine in a mining pool in Ngawa Tibetan and Qiang Autonomous Prefecture, Southwest China's Sichuan province. Photo: VCG
A worker inspects a Bitcoin mining machine in a mining pool in Ngawa Tibetan and Qiang Autonomous Prefecture, Southwest China's Sichuan province. Photo: VCG

China’s top economic planning agency has offered more details about how it will fulfill its promise to root out cryptocurrency mining, saying that in the next phase the crackdown will focus on industrial-scale mines and state-owned entities’ involvement.

Authorities will also prioritize the elimination of Bitcoin mining in particular, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told a Tuesday press conference.

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