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China warns state-owned enterprises to cease involvement in Bitcoin mining
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China is pressuring its own state-owned businesses to cease mining cryptocurrencies, and the government is considering harsh penalties on firms that continue, including higher energy expenses.
According to reports, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), said at a press conference that as China's top economic planner, the NDRC intends to regulate industrial-scale bitcoin mining and any involvement by state businesses in the activity. The NDRC, which is in charge of mining policymaking, has reportedly recently organized a special session on the subject. It also has increased the pressure on provinces and municipalities to investigate and clean up mining SOEs.
The Chinese government has taken a harsh
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