Another Chinese province is about to ban cryptocurrency mining, Forkast.News has learned, citing local mining pool. According to the local authorities' notice, the province plans to close all cryptocurrency mining centers in the region.
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Yunnan's decision to ban cryptocurrency mining followers previous crackdowns in Xinjiang, Inner Mongolia, and Qinghai. Local cryptocurrency mining pools said they are now concentrating their business in Sichuan due to its abundance of hydropower resources. Several mining operators already said they would relocate their business to North America.
As iHodl earlier reported, Xinjiang, an autonomous region of China, is also tightening regulatory rules for cryptocurrency-related business. The local authorities have required all the cryptocurrency mining business to suspend its activity in the region before June 9. While the announcement does not mean a total ban, local companies should stop their services "for rectification."
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