07 Jan '18, 9pm

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

Chinese Authorities Ask Local Miners to Submit Monthly Status Reports

Regulation 45 mins ago | By Cindy Wang - | 4495 | 7 Chinese Authorities Ask Local Miners to Submit Monthly Status Reports Xinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule. Also Read: Japanese ‘Virtual Currency Girls’ Spreading Cryptocurrency Knowledge An Orderly Exit Bitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang committee in charge of overseeing internet finance risks (The Committee) that was circulated online and verified by people familiar with the matter. The document reads that: Xinjiang is home to multiple bitcoin miners, which are both energy-intensive and highly speculative. To curb financial risks and encourage real economy, approaches must be taken to guide miners toward an “orderly” exit fro...

Full article: https://news.bitcoin.com/xinjiang-authorities-ask-local-m...

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