China Customs Seizes 49 Second-hand Crypto Mining Rigs For Export

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The rigs have been detained for false declaration and are pending further proceedings, said Dongguan customs’ superior department, the Guangzhou Huangpu customs.

Shenzhen and Wuhan customs confiscated 126 and 46 miners in February, respectively, also with deceiving labels and declaration forms. 

China banned crypto mining last September, sparking a mass exodus of the local crypto mining business from the country, but authorities continued to bust small-scale operations, according to a state-backed paper’s December report. 

Economic Daily, one of the Chinese Communist Party’s newspapers, called for a crackdown on private crypto miners in a December editorial.

Since last October, at least four provinces raised electricity rates for those still operating crypto mining nodes, with Shandong and Shaanxi launching hotlines for citizens to report information related to illicit crypto mining activities. 

China has not banned mining machines from exporting, according to the latest “Export Prohibition List (Sixth Edition)” which hasn’t been updated since 2021. 

Source: forkast.news