The Chinese authorities will not only put pressure on miners but will also continue to tighten control over crypto traders. The corresponding statement was published at the end of last week by the Central Bank of China.
The regulator plans to announce new measures in the coming months that will help reduce the trading volume in digital currencies.
Recall that the Halyk Bank has been carrying out repressions against the holders of such assets since 2017. Traders will face new restrictive measures by the end of 2021, according to a report published following a meeting of the Central Bank’s management.
Trending: Smart Contracts Audits Startup Hexens Closed $4.2 M Seed Funding
To reduce the scale of trading in bitcoin and other decentralized cryptocurrencies, the regulator expects to accelerate the deployment of the digital yuan. According to the Central Bank, the new instrument can become an excellent alternative for BTC holders.
In June, People’s Bank held talks with the largest Chinese credit institutions and payment systems. At this meeting, the regulator again demanded that financial giants stop working with digital currencies.
In parallel, the Chinese authorities confirmed their readiness to fight to mine. The Financial Stability Committee under the Cabinet of Ministers mentioned that a crushing blow would be dealt with the mining of cryptocurrencies in the coming months.