China intensifies monitoring operations against illegal cryptocurrency mining 

One of China’s previous crypto mining hubs, the Development and Reformation Commission of China in Inner Mongolia, has recently announced that it has already hired a contractor to aid the government in monitoring illegal crypto mining in the country. 

Just seven days after opening its bid to the public for applications, the commission picked the Inner Mongolia Mengze Engineering Management Limited for the critical monitoring task. 

Provided with a government budget of $46,000, Mengze is tasked to help the government establish an intelligence and response unit to effectively “hunt down” illegal crypto mining facilities that are secretly operating in the country. 

Crackdown continues

With this recent announcement, the government has sent a clear message to the citizens that its intensified efforts to destabilize illegal crypto mining operations in the country haven’t cooled down. 

In fact, the government has made it clear that it has a long-term plan to completely eradicate illegal crypto mining operations. 

The recent selection of Mengze to aid the government in monitoring comes after reports a growing number of Chinese Bitcoin and Ethereum miners are resuming their Bitcoin and Ethereum mining. 

Special task force

Seven provinces in China with the highest number of crypto operations had already formed a special task force whose main task is to destabilize illegal crypto mining operations in their jurisdictions. 

Chinese miners, who have decided to stay in the country, instead of migrating their operations, are secretly starting their operations as they have thought that the government has already cooled down on its crackdown efforts. 

But with the government’s latest announcement, miners would have no choice but to permanently close down their operations instead of facing the authorities’ wrath. 

Environmental and power grid issues have always been the government’s pretext in these crackdowns. Many analysts believe that this is only partially true as China prepares to roll out its digital yuan, and it obviously wants no competition in its central bank digital currencies. 

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