China cracks down on crypto mining


Source: thehindu.com thehindu.com

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June 21, 2021 22:29 IST Updated: June 21, 2021 22:29 IST Share Article A A A China has broadened a crackdown on its massive cryptocurrency mining industry with a ban on mines in a key southwestern province. Chinese mines power nearly 80% of the global trade in cryptocurrencies despite a domestic trading ban since 2017, but in recent months several provinces have ordered mines to close as Beijing turns a sharp eye to the industry. Authorities in the province of Sichuan ordered the closure of 26 mines last week, according to a notice widely circulated on Chinese social media and...