The Central Bank of China will announce the need to regulate the use of energy by bitcoin-miners

The Central Bank of China will announce the need to regulate the use of energy by bitcoin-miners

The Central Bank of China calls on the state financial authorities to regulate the use of energy by bitcoin-miners in order to gradually reduce the scale of their production.

The People's Bank of China (PBOC) does not have the authority to regulate the use of bitcoin-miner energy directly, but may ask the local authorities to consider this issue.

Specialists consider China being one of the main countries where miners solve complex mathematical puzzles with computers to obtain virtual coins. Therefore, the intensive use of computers for bitcoins mining led to an increase in demand for electricity.

In September, the Chinese authorities ordered the termination of the initial offer of coins, and all exchange operations with the cryptocurrency were suspended to reduce financial risks. Should  bitcoin miners beware of further restrictions on their activities? 


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