China's central bank makes this decision for Bitcoin producers

China's People's Bank (PBOC) cannot directly regulate the use of electronic energy for Bitcoin, it may require local authorities to do so.

China's central bank told a high-level government financial group that monetary authority could tell local governments to regulate the use of energy by Bitcoin miners to gradually reduce their production rate, one source said, “reported. CNBC” Transmission Periscope.

Meanwhile, China's People's Bank (PBOC) cannot directly regulate the use of electronic energy for Bitcoin, it may require local authorities to do so, the central bank told members of the Beijing Financial Resilivation Group online at a meeting at the end of 2017 said the source.

Experts say China is one of the largest sources of bitcoin mines in the world, where miners solve complex mathematical puzzles with computers in order to extract virtual currency.

The intensive use of computers to extract bitcoin has increased the demand for electricity. In September, China ordered that all initial coin offers be laid off and that all commercial exchanges of cryptovalus closed for purposes that these could endanger the financial market.

Bitcoin miners fear they may be the next target. At the meeting, PBOC said developing bitcoin mines would be limited, according to the source, which declined to be appointed because he was not authorised to speak on the issue. /Periscopi/