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PolicyThe action comes after China’s National Development and Reform Commission laid out its vision for eliminating crypto mining from the country on Friday. By Eliza GkritsiSep 27, 2021 at 8:32 a.m. UTCUpdated Sep 27, 2021 at 8:32 a.m. UTCMichael Drummond/Pixabay Original Source
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“Decentralized finance is the future. Cryptocurrency helps people live in a community without the traditional middleman expenses. It provides equal opportunities for everyone.” – Ider-Od, co-founder of IHC. Mongolia is a landlocked developing country, sandwiched between two giant neighbors – China and Russia, located in the center of the Asian continent,
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Authorities of the Chinese autonomous region of Inner Mongolia have proposed to close down all local cryptocurrency mining facilities to reduce energy consumption in the region.The Inner Mongolia National Development and Reform Commission, or NDRC, released an official proposal to shut down local crypto mining operations in line with its
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Over 20 bitcoin mining farms in China’s Inner Mongolia have been stripped of electricity perks after a clampdown by the local government. A document issued by the Department of Industrial and Information Technology of the Inner Mongolia Autonomous Region on Aug. 24, obtained by CryptoX, shows the government agency has required
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In a press release Thursday, Terra announced its stablecoin issuance protocol would act as Mongolian messaging app memeChat’s new financial backbone. That app, which has attracted 50,000 users since its March launch, now features the Terra-backed memePay payment service as well. Source
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The Federal Customs Service of the Russian Federation stopped the illegal import of four crypto mining devices from Mongolia into Russia.Crypto mining equipment confiscatedOn Oct. 1 Coinspot reported that a Mongolian citizen was trying to smuggle the four mining devices with fans and connected microcircuits across the Russian/Mongolian border
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Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises.Terms of noticeAs local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province.
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