China Prepares for Limit Bitcoin Miners' Power Usage: Report

China is preparing to limit Bitcoin-Miner's Power Consumption: it is reported that the People's Bank of China (PBOC) has said it can put pressure on local governments in the country to regulate the use of bit-mininer energy.

Reuters reports that the Central Bank of China has informed the members of the leading group on financial risk correction on the Internet in Beijing at a meeting that it can "tell" local authorities in Chinese provinces to regulate the energy consumption of bit-mininers. With reference to the source, the People's Bank of China plans to take such a step with respect to the miners in order to gradually reduce the scale of their production. ' 

Recognizing that powerlessly regulating the production of bitcoins is powerless, PBoC officials reportedly stated that they could indirectly advance the agenda by asking local authorities and authorities to do so.

The Leading Group of Beijing Financial Risks on the Internet is the same government Internet finance group that authorized the closure of the bitcoin and crypto exchanges on September 5, the day after the Central Bank of China introduced a complete ban on all initial coin offerings (ICO). 
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