Photographer: Qilai Shen/Bloomberg

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China’s Inner Mongolia has banned cryptocurrency mining and declared its intention of shutting all such projects by April, spurring fears the world’s No. 2 economy will take more steps this year to eradicate the power-hungry practice.

The autonomous region, a favorite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website Feb. 25. The aim is to constrain growth in energy consumption to about 1.9% in 2021.

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