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Three more provinces in China join blitz against Bitcoin mining
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On top of the cost to the environment, Beijing is worried that Bitcoin's unfettered growth earlier this year will attract more retail investors in China to put their money into the cryptocurrency's mining and trading.
PHOTO: REUTERS
Aw Cheng Wei China Correspondent In Beijing , Aw Cheng Wei
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Three more provinces in China banned Bitcoin mining last week in the country's efforts to go green and remove the risks to financial stability.
China has been on a Bitcoin blitz since May, when Beijing announced a crackdown on Bitcoin mining and reiterated its ban on cryptocurrency trading.
