China has intensified its crackdown on cryptocurrency like bitcoin, with moves to ban transactions and mining. Photo: EPA-EFE
China has intensified its crackdown on cryptocurrency like bitcoin, with moves to ban transactions and mining. Photo: EPA-EFE

China turns up heat on cryptocurrencies with ‘elimination’ drive

  • NDRC and other Chinese government agencies follow central bank in issuing curbs aiming to eventually shut down trade and mining of virtual currencies
  • Higher power tariffs for cryptocurrency miners tie in with 2060 carbon neutrality target set by Xi Jinping

Topic |   China economy
China has intensified its crackdown on cryptocurrency like bitcoin, with moves to ban transactions and mining. Photo: EPA-EFE
China has intensified its crackdown on cryptocurrency like bitcoin, with moves to ban transactions and mining. Photo: EPA-EFE
READ FULL ARTICLE