In one of the autonomous regions of China, cryptocurrency mining will be limited

The authorities of Inner Mongolia decided to limit cryptocurrency mining in the territory of this autonomous region of the PRC. This is reported by managing partner of Primitive Ventures Dovi Wang, citing local media.

Just in h / t @ChainNewscom

Regulatory bodies from Inner Mongolia will dedicate resources in restricting cryptocurrency mining within the province

Xinjiang and Inner Mongolia are where most coal mining are based of. Tho I doubt this will have any impact https://t.co/LGmxpRwPeQ

– Dovey Wan ? ? (@DoveyWan) September 14, 2019

The authorities allegedly pay attention to those enterprises that are engaged in cloud computing, Big Data and own data centers. Miners often hide behind this screen.

Apparently, we are talking about the closure of all mining farms in the area. Local regulators believe that cryptocurrencies have nothing to do with the real economy.

Earlier, the National Development and Reform Commission of China (NDRC) unveiled a bill in which mining is called the “undesirable industry” and is proposed to be banned.

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