Eight Departments Including the Central Bank: Continuously Regulate Virtual Currency "Mining" Activities

Odaily News According to a notice issued by eight departments including the People's Bank of China regarding further preventing and dealing with risks related to virtual currency, it mentions the continuous regulation of virtual currency "mining" activities. The National Development and Reform Commission, in collaboration with relevant departments, strictly controls virtual currency "mining" activities and continuously advances the regulation of such activities. Provincial-level people's governments are fully responsible for the regulation of "mining" activities within their administrative regions. In accordance with the requirements of the "Notice on Regulating Virtual Currency 'Mining' Activities" (Fa Gai Yun Xing [2021] No. 1283) issued by the National Development and Reform Commission and other departments, and the provisions of the "Guidance Catalog for Industrial Structure Adjustment (2024 Edition)", they shall comprehensively review, investigate, and shut down existing virtual currency "mining" projects, strictly prohibit new "mining" projects, and strictly prohibit "mining machine" manufacturers from providing various services such as "mining machine" sales within the country.