China's Guangdong Province Orders Fresh Crackdown on Bitcoin Mining | Blockchain News – ChinaPulse.com – China News, Data, Media Intelligence and Insights

China's Guangdong Province Orders Fresh Crackdown on Bitcoin Mining Nicholas Otieno May 07, 2022 21:20 2 Min Read The authorities of China's Guangdong province have imposed a fresh ban on cryptocurrency mining equipment and ordered confiscations of such equipment where found. The Guangdong Provincial Development and Reform Commission announced the fresh ban on Saturday, stating that cryptocurrency mining activities cause huge energy consumption and carbon emissions and have a low contribution to national economic activities. In accordance with the Energy Conservation Law of the People's Republic of China, the authority ordered the use of mining equipment to be stopped and…