The authorities of the Chinese province of Qinghai and District in the neighboring Sinjiang province ordered the mining cryptocurrency this week, following the policy of tightening the control over the industry, writes Reuters.
Division of the Ministry of Industry and Information Technologies in Qinghai banned new cryptocurrency projects in the province from June 9 and told the closure already existing ones, testifies to the order with which the agency familiarized.
with a similar prescription and the Development and Reform Commission in Sinjiang. Projects in the Economic and Technological Development Park Zhundong must close. Sinjiang is the largest center of bitcoin production in China, it accounts for a third of the total computer capacity of the country, and Qinghai is located in the ninth place.
The termination of the miners in Sinjian has already reported the BLOCK edition. The prohibition has become a continuation of the efforts of the Chinese authorities to combat cryptotrading and tightening regulation in the industry. The company has already ceased to work in the production of cryptocurrency BTC.TOP and HASHCOW, the Huobi Exchange announced the Huobi Exchange.
The policy of China negatively affects the cost of Bitcoin. Analysts predict that the price of the most popular cryptocurrency may fall almost twice, up to 20 thousand dollars. Complexity for Bitcoin may arise due to tightening regulation at the world level: the Basel Committee on Banking Supplies make it difficult to use the use of cryptocurrency with financial institutions.