Sichuan, which is arguably the largest hydro-based crypto mining hub in China, is joining the ranks of Chinese provinces cracking down on bitcoin mining.
Municipal governments, city governments and energy providers, including the State Grid Corporation of China, in Sichuan will lead the crackdown.
Any company that is found to be a crypto mining project during the inspection will be shut down.
The notice also stresses the responsibilities of local governments in the crackdown.
Notice from the Sichuan National Development and Reform Commission and Sichuan Energy Bureau About Cleaning Up and Shutting Down Crypto Mining Projects Municipal and city governments, the State Grid Corporation of China in Sichuan, Sichuan Energy Investment Group, central electricity companies in Sichuan and provincial state-owned electricity companies: Based on the provincial government’s 73rd routine meeting and the requirements to crack down on bitcoin mining from the 51st meeting by the Financial and Development Committee of the State Council, we have issued the following: 1.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.