China's Yunnan to Follow Other Regions in Crypto Mining Ban
iHodl.com
Main page News, China, Mining, Regulations

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

China's Inner Mongolia Reveals New Guidelines on Mining Ban

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."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close