China’s National Development and Reform Commission has warned public companies in the country to quit mining cryptocurrencies. He said that despite the government ban, they are considering imposing punitively high energy prices on companies engaged in mining cryptocurrencies.
Commission spokesman Meng Wei said in a statement that it is planned to ban Bitcoin mining on an industrial scale and public companies’ involvement in these activities.
Identification of Mining Companies Requested
The commission, which held a special meeting on this subject last week, requested local governments to clean up after determining whether public companies were involved in cryptocurrency mining.