{"id":9891,"date":"2021-09-14T16:01:19","date_gmt":"2021-09-14T15:01:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9891"},"modified":"2021-09-14T16:01:29","modified_gmt":"2021-09-14T15:01:29","slug":"hebei-chinese-province-plans-to-restrict-cryptocurrency-mining","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hebei-chinese-province-plans-to-restrict-cryptocurrency-mining\/","title":{"rendered":"Hebei Chinese province plans to restrict Cryptocurrency mining"},"content":{"rendered":"\n
Hebei, a northern Chinese province<\/a>, is the most recent jurisdiction to clamp down on cryptocurrency mining and trading in the country citing environmental conservation as a reason.<\/h5>\n\n\n\n
\"Hebei<\/figure><\/div>\n\n\n\n

The province's cyberspace commission \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>announced plans to restrict cryptocurrency mining and trading activities in the region on Tuesday, according to Reuters.<\/p>\n\n\n\n

The move coincides with China's broader anti-crypto policy, which has forced the majority of the country's cryptocurrency mining industry to relocate overseas.<\/p>\n\n\n\n

“Cryptocurrency mining consumes a large amount of energy, which goes against China's ‘carbon neutral' policy,” authorities in the province said in a statement quoted by Reuters.<\/p>\n\n\n\n

The Hebei cyberspace commission has ordered all relevant government stakeholders in the province, including education, public security, communications, and financial regulators<\/a>, to participate in the crackdown efforts as part of the crypto mining ban.<\/p>\n\n\n\n

According to reports, these agencies will have until September 30 to ensure that their information systems are not assisting illegal crypto mining and trading operations.<\/p>\n\n\n\n

Because of China's crypto mining restriction, there has been a major East-West hash power shift, with North American miners potentially controlling a larger share of the worldwide hash rate distribution.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hebei, a northern Chinese province, is the most recent jurisdiction to clamp down on cryptocurrency mining and trading in the country citing environmental conservation as a reason. The province’s cyberspace commission announced plans to restrict cryptocurrency mining and trading activities in the region on Tuesday, according to Reuters. The move coincides with China’s broader anti-crypto […]<\/p>\n","protected":false},"author":12,"featured_media":9896,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[322,777,4409],"class_list":["post-9891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-china","tag-crypto-mining","tag-hebei"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Hebei-Chinese-province-plans-to-restrict-Cryptocurrency-Mining-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9891"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9896"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}