Province of China proposes to blacklist social credit Bitcoin miners: Report

Following news of the upcoming pressure on Bitcoin mining in China, the state government of Inner Mongolia has now proposed that those who violate the new regulations be blacklisted from the country's social credit system, according to local reports. . This means that illegal Bitcoin miners in the state will face limited access to financial products, overseas travel blocks, and more if caught, according to sources. The report stated that the sanction will be imposed not only on individuals, but also on cloud service providers, internet companies and even internet cafes trying to mine cryptocurrencies illegally. Inner Mongolia is the first province in China to directly respond to initial requests on May 21. At that time, the Beijing Finance Committee, overseen by the State Council, included Bitcoin mining on its sought-after “ financial risks '' list. '' check. Bitcoin Crashes 12% As China Repeats Mining Cracks This was the first time the State Council, a high-ranking agency, spoke openly about Bitcoin mining. This story is under development and will be updated.

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