China’s crackdown on cryptocurrency spreads to Yunnan in southwest

A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson

China’s crackdown on cryptocurrencies has spread to the country’s southwest with a campaign against misuse of electricity by bitcoin miners in Yunnan province, local media reported on Saturday.

In addition to concerns about the huge amounts of energy needed for the computing power to create cryptocurrencies, the central government is also concerned about speculation after a surge in the price of bitcoin.

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