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Sichuan Energy Regulator to Meet to Discuss Bitcoin Mining: Report
Some mines in Sichuan are operating as usual despite the recent crackdown, Global Times reported.
The Sichuan Energy Regulatory Office said Thursday it will meet June 2 to discuss crypto mining activities amid China's nationwide crackdown.
STORY CONTINUES BELOW
- The energy regulator of the southwestern province is required to meet by the country's National Energy Administration, according to Global Times, a newspaper under the Chinese Communist Party's flagship publication, People's Daily.
- Despite a national crackdown on bitcoin mining, some mines in Sichuan are operating as usual, Global Times said, citing unidentified industry insiders.
- Sichuan has been a popular region for bitcoin mining due to its cheap electricity from hydropower during the rainy season.
- Chinese regulators recently stressed that the country would be taking a stricter approach to bitcoin mining, with the People's Bank of China prohibiting financial institutions from providing services to crypto companies.
Read more: Bobby Lee Says Latest China ‘Bitcoin Ban’ Nothing to Fear and Nothing New
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
