tax inspections


Bitmain, the leading Bitcoin mining machine company in the world, was slapped with a hefty fine of approximately $3.55 million by the Beijing tax bureau in April for non-payment of personal income taxes. The Chinese government has been ramping up its efforts to regulate the cryptocurrency industry, with a particular focus on Bitcoin miners and large traders. The crackdown on cryptocurrency-related activities by the Chinese authorities started last year and has since intensified, with frequent…