The People's Bank of China (PBOC) reportedly claims to be able to pressure local governments in the country to regulate the use of energy used in the mining of bitquin. Reutersreported that the central bank of China said at a meeting of members of the Beijing-based leading Internet financial risk solutions group that it could tell local governments in China's provinces to regulate energy consumption by the Betquin metal. Where the People's Bank of China plans to carry out such a move against the minerals to gradually reduce their production volume, the agency quoted a source as saying.
While Chinese People's Assembly (NPC) officials acknowledged their inability to regulate the Betquin mining, they say they can push the agenda indirectly by asking governments and local authorities to do so. Beijing's leading financial risk solutions group is the same as the government financial group that was forced to close the Betquin and other digital currency platforms on Sept. 5, a day after China's central bank imposed a blanket ban on all initial currency support operations“ICOs“.