Chinese Central Bank Pushing to Curb Bitcoin Mining

[kreslik.news]

After successfully banning ICOs and then all cryptocurrency exchanges within the country’s borders,  the eyes of the Chinese authorities are now on the Bitcoin mining industry.

According to a local source, the People’s Bank of China (PBC), the Chinese central bank, is pushing for the regulation of the power usage of Bitcoin miners, thus reducing the scale of their coin production.

As the bank does not have the authority to impose such rules, it has told the Leading Group of Beijing Internet Financial Risks Remediation, in a closed-door meeting at the end of 2017, to ask local authorities to impose limitations ... (read more)