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Beijing starts fight against cryptocurrency tycoons

News Snapshot:

According to the Chinese business agency Jiemian News, 20 provinces in China have set electricity consumption limits for industrial plants and residential buildings. In Jiangsu province, 143 enterprises are completely shut down, more than a thousand enterprises are forced to work according to the “two in two” scheme. In Guangdong province, individual enterprises have moved to a two-in-five operation. The authorities ordered them to keep their electricity consumption 15% below the full load level. In Zhejian province, about 160 companies and factories have been closed, in Liaoning province, electricity is cut off in 14 cities. Record high prices for gas…

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