The government of the People's Republic of China intends to impose harsh penalties on government agencies that continue to mine digital assets in the short term. The authorities want to speed up the process of the complete eradication of cryptocurrencies from all areas of activity.
As of today, the Chinese government is already putting pressure on its own state-owned companies to stop mining digital assets immediately. Now, as it became known from official sources, the authorities want to increase pressure on enterprises, starting to “punish” those institutions that still demonstrate high energy consumption with fines.
The press center of the National Development and Reform Commission of China said that a special working group will soon be created, which will direct all its efforts to research the mining industry. According to the press secretary of the department Meng Wei, economists and crypto experts will begin to study in detail the activities of almost every state-owned company operating in China. The main task of the working group will be to identify institutions that, bypassing the ban, continue to spend money from the budget for the extraction of cryptocurrency.