China Tightens The Noose On Illegal Crypto Miners as Anti-Crypto Campaign Continues

2021-09-16 17:36:45
Chinese Authorities Turn Up The ‘Heat’

China is increasing the intensity of the anti-crypto campaign, as new inspections and searches are conducted in several colleges and provinces around the country. Even prior to this news, the Chinese government already made clear that it will not tolerate any crypto activity that is not approved by the Chinese authorities.

While this certainly produced results, the government of China is going a step further in order to make a statement to all crypto miners. And that it is no matter how much you hide, the government will eventually get you.

For that matter, the Chinese government targets miners that are hiding in plain sight. Meaning that the crypto miners usually will set up a front operation, such as a storage facility or data and market researcher. This is rather genius, given that it is a perfect alibi in case the government snoops around. However, it seems that these tactics won’t work for very long.

China is relentlessly trying to attempt to apprehend anyone with an involvement in illegal crypto activity. As a result, there are frequent inspections on multiple colleges, in several different Chinese regions.

The number one reason for the recent increase of intensity by the government is due to the frequent power shortages. Especially for the upcoming winter, when it is only natural to require more electricity. In order to ensure that won’t happen, China intensifies the efforts to permanently deal with the crypto situation.

Furthermore, this massive crypto crackdown started out back in January 2021. That is when China shut down all crypto mining operations in the cities of Qinghai and Sichuan. A result of the fact that these cities are very rich in coal, and eventually, hydropower. Consequently, making for quite the convenient charging port for crypto miners in those particular regions.

Crypto-Miners Starting To Get Creative

One of the ways the Chinese crypto enthusiasts deal with the government’s intense war on crypto, is sadly by moving away. With the majority of citizens migrating to the United States and Kazakhstan. This is understandable, considering the big difference between these two and China when it comes to crypto regulations.

Yet, there are those who do not fear the intense anti-crypto campaign that is currently going on in China.

In fact, many Chinese crypto miners are creatively fighting against the state’s grasp. One such citizen admits to frequently relocating his equipment in order to avoid capture. He also mentions that he never holds more than 100 computers at once, in order to avoid suspicious power activity.

Truly amazing what people can do when they have the right motivation.

 

 

 

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