Regulators Sichuan impose a ban on the activities of the miners

The administration of the Chinese province of Sichuan have issued a notification banning mining of cryptocurrencies on its territory, writes The Block.

The notification was prepared by the financial administration for departments under control and contains the following lines:

«Companies for the development of hydropower should immediately stop investment related activities «mining» of virtual currencies, and not to add new projects via the «mining» of virtual currencies. Otherwise it is recommended to organize the investigation and deal with illegal construction, to impose prohibitions, fines, and orders for self-demolition and the other administrative steps until the case is taken to work the court for enforcement.»

As noted by The Block, it remains unclear whether miners in Sichuan is really forced to stop their activities. It is estimated that the region accounts for about 10% of global Hasrat bitcoin.

Familiar with the situation sources told that the order may not take effect and the miners will continue to operate as usual. However, they really can not get access to cheap electricity.

Earlier it became known about problems with hydropower in Sichuan due to the delayed of this year’s rainy season. It is expected to contribute to the growth of bitcoin Hasrat, if the authorities of Sichuan at this time is not to prohibit the activity of the miners.


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