China’s Yunnan province is reportedly joining the ongoing crackdown on cryptocurrency mining that is already well underway in other Chinese regions.
Local authorities in the province will be conducting investigation in an effort to identify and shut down miners that are illegally using electrical power to mine bitcoin. Inspections that will be carried out as part of this will also focus on potential safety hazards and will be facilitated by various government agencies.
China has been engaged in a series of moves to thwart potential crypto mining activities that endanger its goal to be carbon neutral in the years to come.
The province’s response
In line with this, as a response to reports of existence of mining activities in the province, the Yunnan Energy Bureau revealed it plans to cut the power supply to individuals and companies that are using electricity to power crypto mining facilities.
Meanwhile, safety risks associated with the industry that will be discovered during inspections could become grounds for shutting down mining operations, according to the energy administration.
The cleanup against the industry is expected to be completed by the end of the month and authorities have also warned of sanctions for power generation enterprises that support illegal crypto mining activities.
China continues fight against crypto mining
In enforcing the measures, Yunnan becomes the latest Chinese region to bring the hammer down to the industry that is thought to strain both the energy sector and the environment.
Similar measures have already been taken in Inner Mongolia, Xinjiang and Qinghai. Sichuan energy officials had a meeting to discuss the implications of bitcoin mining earlier this month but the region has not adopted any policy changes yet.
China is working hard on its target of becoming carbon neutral and the ongoing crackdown on digital currency mining operations is believed to lead the country towards such an ambitious goal.
Image courtesy of Cointelegraph News/YouTube
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Source: https://bitcoinerx.com/blockchain/yunnan-province-now-joins-chinas-ongoing-crypto-mining-crackdown/
