The Chinese central bank is planning to limit the mining business by imposing restrictions on the electricity usage by miners.
Chinese biggest bitcoin exchanges unveiled on Sunday they will impose trading fees, as the government is tightening control over digital currency.
The People’s Bank of China found some violation of rules in the operations of major bitcoin exchanges.
China’s central bank unveiled plans to more closely inspect operations of digital currency exchanges in an effort to curb the yuan’s outflow.
The People’s Bank of China emphasized that bitcoin is not a currency and can’t circulate in the market as a real currency.
China’s central bank on Wednesday announced that it will try to issue digital currencies ‘as soon as possible’ to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply.