9/16/2021, 11:58 AM (Source: TeleTrader)
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China pledges to boost search for crypto miners

China's Cyberspace Administration (CAC) issued a statement on Thursday, vowing to increase efforts aimed at tracking down the cryptocurrency miners "in hiding."

A day prior, the administration's Hebei province branch announced a tougher crackdown on crypto miners, claiming that cryptocurrencies pose a risk in terms of both energy consumption and financial risks.

Prior to the government's decision to take a more restrictive stance regarding cryptocurrencies, China was one of the most popular countries for miners, mostly due to inexpensive electricity.

Baha Breaking the News (BBN) / BU