Quote from: quhert on January 04, 2018, 01:04:49 PM

The People's Bank of China will regulate mining with the help of local authorities

The People's Bank of China said it could put pressure on local authorities in the country to regulate the use of energy by the miners

Reuters reports that the central bank of China informed the members of the leading group on the restoration of financial Internet risks in Beijing that it can "tell" local authorities in Chinese provinces about the regulation of energy consumption of Bitcoin miners. Referring to the source, the People's Bank plans to take such a step against the miners in order to "gradually reduce the scale of their production."

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To be sure, the profiteering industry of the mine would mean that the state would come in and collect taxes, and the state would crack down on cheap electricity.