China is preparing to restrict the use of power miners

China is preparing to restrict the use of power miners

Reportedly, the people’s Bank of China (PBOC) announced that it will put pressure on local authorities in the country to regulate the use of power miners.

As informs Agency Reuters, the representatives of the Central Bank of China at the meeting with representatives of the Leading Group of Beijing Internet Financial Risks Remediation in Beijing stated that they may require from local authorities for the regulation of electricity consumption by the miners. The people’s Bank of China plans to implement the move to “gradually reduce the scale of their production.”

Representatives of the PBoC acknowledged that it did not have any direct effect on manerov, therefore, intend to act indirectly through local authorities.

The Beijing group working with financial risk on the Internet (Leading Group of Beijing Internet Financial Risks Remediation) is the same group that announced the termination of activity of the cryptocurrency exchanges in China on 5 September, a day after China’s Central Bank has imposed a complete ban on all ICO.

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