The Chinese government is beginning a crackdown on illegal miners , according to a leaked document from the country 's internet finance regulator . The Leading Group of Internet Financial Risks commission has given instructions to its regional officers to force out miners using a combination of sanctions on tax and land use . The commission , which is chaired by the deputy governor of the People 's Bank of China , expressed concern over the way illegal miners have consumed " huge amounts of resources " and increased speculation in virtual currency . They said bitcoin miners should make an " orderly exit " from China .
The Chinese government is beginning a crackdown on bitcoin miners, according to a leaked document from the country's internet finance regulator. The Leading Group of Internet Financial Risks Remediation has given instructions to its regional officers to force out miners using a combination of policies on tax and land use. The body, which is chaired by the deputy governor of the People's Bank of China, expressed concern over the way cryptocurrency miners have consumed "huge amounts of resources" and increased speculation in virtual currencies. They said bitcoin miners should make an "orderly exit" from China.