Eight Departments Including the Central Bank: Continuous Crackdown on Virtual Currency "Mining" Activities

Odaily News According to a notice issued by eight departments including the People's Bank of China on further preventing and dealing with risks related to virtual currencies and other areas, it is mentioned that there will be a continuous crackdown on virtual currency "mining" activities. The National Development and Reform Commission, in collaboration with relevant departments, will strictly control virtual currency "mining" activities and persistently advance the rectification of such activities. Provincial-level people's governments are fully responsible for the "mining" rectification work within their respective administrative regions. In accordance with the requirements of the "Notice on Rectifying Virtual Currency 'Mining' Activities" (Fa Gai Yun Xing [2021] No. 1283) issued by the National Development and Reform Commission and other departments, and the stipulations of the "Guidance Catalog for Industrial Structure Adjustment (2024 Edition)", they are to comprehensively review, investigate, and shut down existing virtual currency "mining" projects, strictly prohibit new "mining" projects, and strictly forbid "mining machine" production enterprises from providing various services such as "mining machine" sales within the country.