More provinces in China are taking serious actions to crack down on crypto mining following the all-out ban announced on Sept. 24 by the country’s top authorities.

Fast facts

  • Southeast China’s Fujian provincial development and reform commission on Friday held a video conference meeting with local authorities to clarify their responsibilities and pledged to “clear out” virtual currency mining operations, according to a local regulator’s statement.
  • Just last week, Wei Meng, a spokesperson for the National Development and Reform Commission (NDRC), the country’s top economic planner, said at a press briefing that as part of the next step of the clampdown, the authorities will focus on raiding industrial clustered mining activities and those carried out by state-owned entities. If an entity is found to have participated in mining crypto, it could be subject to punitive electricity charges for future operations, according to Meng.