Local Government of China to Regulate Bitcoin Mining

Local goverments are expected to regulate the power usage of bitcoin miners to gradually reduce the scale of their production
03 January 2018   1450

The central bank of China told members of the Leading Group of Beijing Internet Financial Risks Remediation at a meeting at the end of 2017 that the monetary authority can tell local governments to regulate the power usage of bitcoin miners to gradually reduce the scale of their production.

While the People’s Bank of China (PBOC) can’t directly regulate bitcoin miners’ power usage, it can ask local authorities to do so. At the meeting, the PBOC said that development of bitcoin mining will be limited, according to the source, who declined to be named.

In September China ordered all initial coin offerings to cease and all cryptocurrency trading exchanges to be shuttered with the aim of containing financial risks.

SBI Holdings to Start Mining Chips Manufacturing

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States
22 March 2019   114

The Japanese financial conglomerate SBI Holdings announced the creation of a new enterprise that will focus on the production of chips and cryptocurrency mining systems.

The message on the company's website says that SBI Mining Chip Co. (SBIMC) is part of SBI Holdings digital asset strategy.

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States, and a former head of Chip Estimate and WearSens Adam Trademan, will head it. Currently, Trademan heads the BRD mobile cryptocurrency wallet development company, in which SBI Holdings invested $ 15 million in January of this year.

Recall that its plans to launch a broad offensive against the cryptocurrency industry were announced by SBI Holdings in October 2017. Since then, the corporation has made numerous investments in various projects, and also intends to promote the mass adoption and practical use of the RR Xle XRP token.