Chinese province Authority launches a campaign against cryptocurrency mining and trading

A number of government authorities are working together to bust the operations which are consuming the computational power of China for crypto mining operations, which is illegal as per China rule. 

In the crypto market, everyone knows how China busted mining operations from the country. And also banned all the crypto companies operations from China. Most of the Chinese companies flee to crypto friendly regions. But still there are few small companies which are trying to operate their crypto operations anonymously in the country. 

To bust all possible hidden crypto mining operations and trading activities in China, Hebei province in Northern China became the latest to take action in a collaborative approach with other authorities of China. 

According to the report of South China Morning Post (SCMP), cyberspace administration of local region are running a campaign to bust all kind of operations which are against the government law and giving negative impact over environmental and financial services as per law of china. 

This anti crypto mining and trading campaign aimed to bust all kinds of the mining operations of Beijing before the end of September. 

A report by the state-controlled broadcaster CCTV, stated

“Hebei’s internet and telecom office has joined forces with the provincial departments of education, public security, financial supervision, and communications among others, as well as the Shijiazhuang branch of the People’s Bank of China to carry out the “rectification actions against virtual currency mining and trading activities.”

 Colin Wu ( A chinese journalist, who kept an eye on the incident that happens in China related to crypto), shared the news on twitter. 

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