Report: China’s Xinjiang suspends bitcoin mining operations
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Report: China’s Xinjiang suspends bitcoin mining operations
The Chinese anti-Bitcoin mining campaign has reached Xinjiang, after Inner Mongolia and Sichuan.
According to documents circulating on Weibo, the province’s Development and Reform Commission has asked to suspend crypto mining in the region.
According to a document posted on Weibo, the Changji Development and Reform Commission (in Xinjiang, China) has asked the Xinjiang ZhunDong Development Zone Management Committee to suspend the production of virtual currency mining enterprises before 2 p.m., June 9 for correction. pic.twitter.com/h6vaRKnHGe
– 8BTCnews (@btcinchina) June 9, 2021
By using Google’s translation of the document written in Chinese, we find that it carried the following:
Country leaders have issued instructions to clean up and fight crypto-mining behavior.
Read:Goldman Sachs: Wealthy Clients See Bitcoin as an Inflation Hedge
Cryptocurrency mining projects must halt construction or production by the Energy Savings Review Agency.
Responsible persons, please, immediately request your company to suspend production before 14:00 today, June 9, 2021, and report the suspension of production to Changji County Development.
Xinjiang is one of the prominent bitcoin mining regions in China, and power outages due to flooding in the region led to a sharp drop in the hash rate of the bitcoin network last month.
Local reports did not say whether the suspension would be temporary or permanent, as miners in the area indicated they would continue their operations until more updates arrived.
Banning Bitcoin mining in “Xinjiang” is it a pure threat or a serious step by the Chinese government?
China’s crackdown on cryptocurrency is nothing new, but many insiders have claimed that the government is going to crack down this time around.
Among the many provinces famous for being a center for bitcoin mining, “Inner Mongolia” became the first and only province to completely ban bitcoin mining of any scale in the region.
This was expected because the province failed to meet the carbon emissions targets set by Beijing.
Read:Decentralized Funding Coin Built on Ethereum Rise 200% in 1 Week…For These Reasons!
The Sichuan local government decided not to take any immediate drastic measures and allowed miners in the province to continue working this season.
At the same time, it also warned miners not to start looking for alternatives.
The recent crackdowns are also attributed to Beijing’s strict goals of carbon neutrality, which have led to the banning of many fossil-fuel mining operations.
Chinese search engines (Baidu and Sogou) stop showing results for cryptocurrency trading platforms:
As we are preparing an article about China’s Xinjiang suspending bitcoin mining operations, other breaking news has emerged that popular search engines in China such as “Baidu” and “Sogou” have stopped showing results for Chinese trading platforms such as Binance, Huobi, OKEx.
Read:PolyNetwork Exploitation and $600 Million Crypto Heist
BREAKING: On June 9, all Chinese search engines such as Baidu and Sogou banned all three major exchanges: Binance Huobi and OKEx. pic.twitter.com/pmRZkIvOzn
– Wu Blockchain June 9, 2021
Read also:
El Salvador legislature approves legalization of Bitcoin as legal tender
G7 countries express strong concerns about China’s new digital yuan plan?
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time