Chinese regulators will strengthen the pressure on miners

Autonomous Chinese Province Inner Mongolia authorities intend to carry out mass inspections of mining companies in order to force them to start providing hardware infrastructure services for blockchain technology supported by the government.

Officials decided to struggle with chaos, speculation and illegal operations in the digital sphere. Since China’s authorities consider mining cryptocurrency with a pseudo-finance innovation that is not related to the real economy, then companies related to mining will become the main objectives of the future checks.

The close attention of the regulators is also expecting an enterprise that use preferential electricity tariffs, issuing themselves for representatives of the large data industry.

To cleanse the economy of the region, the Government of Internal Mongolia will send a joint inspection team to verify, «screening and fixing» companies, according to the notification of the local department of industry and information technology.

According to businessmen, learning about the intentions of regulators, many miners did not wait for the beginning of the new wave of inspections and decided to move their business to other regions and countries of Asia.

In parallel with the infringement of crypto industry, China

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