Cryptocurrency News

China will socially blacklist bitcoin miners in Inner Mongolia region

China has intensified efforts to end cryptocurrency mining in its interior Mongolia region by introducing new penalties for those involved in illegal activities.

Officials unveiled new draft rules that would see stricter penalties for those caught mining bitcoin (B T c) And other cryptocurrencies, a. According to Report good These would include placing criminals on a social credit blacklist by the South China Morning Post, which would prevent them from obtaining loans or using the transportation system.

The new rules specifically mention data centers, industrial parks, telecommunications companies, Internet firms, and even cybercafes, noting that any such criminal operating a mining device revokes his business license Will be granted, can be removed from the local electricity business plan and even their businesses are completely shut down.

The draft rules are ready for public review by 1 June, however, the Inner Mongolia region is already subject to stringent action on cryptocurrency mining. Eliminating energy-intensive mining is part of China’s stated plans to become carbon neutral by 2060. a Telephone hotline Already active in the Inner Mongolia region, where citizens are encouraged to notify the authorities of any cryptocurrency mining occurring locally.

China’s determination to free itself from bitcoin miners has already had an impact. Three mining companies – BTC.TOP, Huobi and HashCow – announced that they were Shutting down Their operations in the Chinese mainland earlier this week.

While China pursues crypto miners as part of its declared carbon targets, other countries are engaged in the same activity but for different reasons. Iranian President Hassan Rouhani made a televised address on Wednesday in which he announced Immediate ban All Bitcoin Mining until September. The energy shortage in Iran is reportedly driven by greater electricity consumption by bitcoin miners, and is already the result of grid blackouts and streetlight shortages.

Iranian officer Now giving 200 million riyals ($ 873) as a prize for anyone who came forward with a successful tip about the location of illegal bitcoin miners – more than four times Iran’s average monthly salary.