China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies "are not legal tender and have no actual value."

In a local media conference, Yin Youping, the deputy manager of the Financial Consumer Rights Protection Bureau of the People's Depository financial institution of China (PBoC), said the primal banking company will maintain a "high-pressure situation" and continue to scissure down on digital currency-related transactions.

At the conference session, which was coincidently held during China's "Financial Knowledge Popularization Month," Youping stated that digital currency-related transactions are pure investment hype. Youping said that the public should increment its adventure awareness and stay away from crypto investments.

Despite the government's continued prosecution of the crypto industry, Youping cited the possibility of a rebound in crypto trading operations in People's republic of china. Every bit a countermeasure, the PBoC will work with local authorities to detect traders using offshore crypto exchanges and, as a outcome, will increment efforts to block trading websites, apps and corporate channels.

The PBoC is reportedly working with the Communist china Banking and Insurance Regulatory Commission to develop systems for monitoring and combating the apply of digital currencies.

Related: Chinese province to cut off Bitcoin miners from hydropower stations

In addition to the pressures laid downward by the PBoC, local governments in Prc accept as well started taking proactive measures to stop crypto activities. Regulators from Yingjiang County have asked hydropower plants to cut the power supply for crypto miners in the area.

Powerplants have as well been asked to notify the National Development and Reform Commission afterward delisting crypto miners from their corresponding grids. While Chinese miners go on to settle abroad in countries with crypto-friendly regulations, China has reportedly started to redirect the saved electricity to build infrastructure for electrical cars.