After China’s ban on Bitcoin and cryptocurrency mining, mining companies left China and started to operate in other countries.
The Chinese government, on the other hand, continues to put pressure on state-owned enterprises to completely stop cryptocurrency mining.
China’s National Development and Reform Commission (NDRC) has warned public companies to cease their cryptocurrency mining activities. It has been stated that punitive measures will be applied, such as providing high-priced energy to businesses that do not stop their activities.
NDRC spokesperson Meng Wei said in a press release that the NDRC plans to block Bitcoin mining and public enterprises from participating in mining activities.
The NDRC held a meeting on this issue last week and announced that they will contact local governments to determine whether public companies are mining crypto.
While the Chinese government said it introduced mining bans to achieve its carbon neutral goal, it blamed Bitcoin miners for everything from excess energy consumption in the country to the coal mining accidents that occurred.
After the crypto mining bans in September, the Chinese government added crypto mining to the list of prohibited sectors in October. After these bans, major crypto exchanges such as Binance, Huobi and Bitmain, including crypto miners, also decided to leave China.