China’s Yingjiang County prohibited hydropower stations from supplying crypto mining companies

According to information from the People’s Government Office of Yingjiang County, Yunnan Province requires that all illegal power supply to crypto mining be stopped, and the removal shall be carried out before August 24. Otherwise, the government will forcibly remove it.

China bans hydropower stations from supplying crypto mining companies

Furthermore, all municipalities notify all stations in their jurisdiction to stop supplying electricity to Bitcoin miners and remove any mining rigs from the area, if any, by August 24, 2021. If they do not voluntarily do so, they will be forced to.

To force the dismantling of the mining rigs, workshops and associated departments will be organized. If hydroelectric stations are not willing to comply with the released notice, they will be dismantled by the State Energy Bureau.

Furthermore, townships are obliged to monitor major data plants related to or part of hydropower stations. The County Development and Reform Bureau departments are ruled to step up legal efforts to eliminate the provision of “illegal power” supply to crypto mining companies.

Previously, Anhui Province, Sichuan Province, Inner Mongolia Autonomous Region, and other centrally-run cities have been obligated to clean up-regulate the power consumption of cryptocurrency miners.

The Yunnan Provincial Energy Bureau previously stated that it will investigate and take legal action against any Bitcoin miners that rely on power generation companies, use unauthorized electricity sources, or utilizing power for additional hidden profit-making.

Recently, China has stepped up its crackdown on the crypto market. As AZCoin News reported, the Shenzhen branch of the People’s Bank of China is going after illegal forex and cryptocurrency trading companies and has shut down 11 companies that are working in the trading and financial industry or with digital assets.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS