China has recently ordered Bitcoin miners in Yunnan to shut down operations by the end of June 2021. As revealed this week, the government of China is planning to double down on the independent blockchains.
China Orders Bitcoin Miners in Yunnan to Shut Down Operations
Well earlier, it was speculated that China will only keep the ban on the trading sector, but the government has taken a decision to not even leave the mining sector alone.
At present, it is difficult to understand what is going on in the mind of the government of China, as banning mining business is like shutting down the money-printing machine that is providing cash to both the miners and the government that is earning through taxation on the gains.
However, it should be noted that the carbon neutrality goal of the country along with the fervent DOGE trading has given rise to concerns with the government at an inconvenient time.
All the events happening in China last week, from the Bitcoin mining ban to the publicity surrounding the latest, centralized, advertisement Chang An Chain.
Sichuan Being the Only Province Left Alone
As revealed in a press release:
“By the end of June, all bitcoin mining operations must be scrutinized and cleaned up. Any operation that uses electricity without permission must be stopped.”
Sichuan is the only province that has largely been left alone, whose government actually called a meeting with the major miners in the region to have a discussion on the situation before pulling out the plug.
What surprised us more than the ban that was initiated last month by the government of China was the pace at which everything was banned, as generally, it is not the case.
