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China sketches out next phase in crypto mining crackdown

Authorities focus on large miners, involvement of state-owned entities

In their crackdown on cryptocurrency mining, Chinese authorities say they will prioritize the elimination of Bitcoin mining, in particular.    © Reuters

China's top economic planning agency has offered more details about how it will fulfill its promise to root out cryptocurrency mining, saying that in the next phase the crackdown will focus on industrial-scale mines and state-owned entities' involvement.

Authorities will also prioritize the elimination of Bitcoin mining in particular, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told a Tuesday press conference.

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