China’s crackdown on crypto mining continues, state-owned firms targeted

2021-11-16 2022-07-25

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China's top economic planner will launch a comprehensive crackdown on cryptocurrency mining, with focus on cleaning up state-owned companies' and "industrialized and centralized" mining activities, said Meng Wei, spokesperson of the National Development and Reform Commission (NDRC), at a press conference on Tuesday.

The NDRC said it will study imposing punitive electricity prices on those who are enjoying household electricity prices but found to be taking part in cryptocurrency mining activities.

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