- Increasing regulation of cryptocurrencies will raise legal and reputational risks for domestic and foreign firms in energy, finance and technology sectors
- Shift in cryptocurrency activities will increase power demand in areas outside the country’s traditional energy hubs and abroad
- Environmental regulation and scrutiny will rise for firms with direct or indirect links to the industry, increasing need for associated due diligence
Vice Premier Liu He said tighter regulation of cryptocurrencies is necessary to prevent financial risks, during a meeting of the State Council on 21 May.
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