CORRECTION (June 11, 2021, 18:15 UTC): This article originally stated that Yunnan province ordered crypto miners to be shut down. The source for this claim appears to have been a counterfeit. Read more. The original article appears below.
The Chinese province of Yunnan is getting set to ban cryptocurrency mining, becoming the latest one to do so, according to Forkast News, citing BTC.top, one of China's top mining pools.
- The coming ban follows similar actions in Qinghai, Xinjiang and Inner Mongolia.
- BTC.top said it would need to accelerate shifting operations to North America as well as to the hydropower-rich province of Sichuan, Forkast said in the report.
- The bans are in response to the central government’s concerns about high energy-consuming industries and environmental pollution as well as the State Council’s directive to maintain financial stability by cracking down on crypto mining and trading.