China’s crypto mining industry is facing the biggest regulatory threat of the last three years.

On May 21, China’s cabinet of ministers, the State Council, explicitly discussed cracking down on cryptocurrency mining. It was the first time the government body explicitly targeted the industry.

Just four days later, Inner Mongolia proposed a set of eight measures that will likely stifle crypto mining in the province.

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Eliza Gkritsi

Eliza is TechNode's blockchain and fintech reporter. When she isn't obsessing over the rise of distributed ledger technology in China, she helps with editing.