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TechnologyChina's Inner Mongolia escalates crackdown on cryptomining Reuters 3 minute read China's northern region of Inner Mongolia escalated a campaign against cryptocurrency mining on Tuesday, publishing draft rules to root out the business, days after Beijing vowed to crack down on bitcoin mining and trading. The Inner Mongolia Development and Reform Commission said in the proposed rules that telecommunications companies and internet firms which are engaged in cryptomining will see their business licenses revoked by regulators. It also said that authorities would introduce tougher energy-...

China's Inner Mongolia set to impose eight measures on crypto mining ban Download PDF / Print Quick Take The Inner Mongolia Development and Reformation Commission issued a proposal on Tuesday that outlined eight areas that could be deemed as illegal that relate to crypto mining activities. It is the first, more concrete proposal to emerge four days after a Chinese State Council committee raised the subject of a bitcoin trading and mining crackdown during a recent meeting. The government of China's Inner Mongolia region has proposed eight new measures to phase out crypto mining activities. The...

One Chinese region has set up a hotline to report illegal Bitcoin farms.

China’s obsession with financial secrecy is causing problems overseas … even when it’s giving $55M away China is once again causing controversy in Africa for doing something that, in theory, should win praise — giving away money. This week, it emerged Beijing had secretly gifted Sierra Leone $55 million to fund a controversial “fishing harbor” on an undeveloped stretch of coastline, which supports the local fishing industry, borders protected rainforest, and is home to endangered turtles and pangolins. The deal only came to light after residents were told by officials in the Whale...