Energy

Major China bitcoin mining hub lays out harsher crackdown measures

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A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016.

Paul Ratje | The Washington Post | Getty Images

GUANGZHOU, China — China’s Inner Mongolia region has proposed punishments for companies and individuals involved in digital currency mining as it looks to further crack down on the practice.

The move comes after Chinese Vice Premier Liu He said last week in a statement that it is necessary to “crack down on Bitcoin mining and trading behavior” to prevent the “transmission of individual risks to the social field.”

Those comments were seen as Beijing’s intentions to continue a four-year crackdown on bitcoin trading and other cryptocurrency-related activities.

Inner Mongolia’s…



Source cnbc.com

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