Chinese Central Bank and Eight Other Departments: Continue to Rectify Virtual Currency "Mining" Activities, Thoroughly Review and Close Down Existing Virtual Currency "Mining" Projects

BlockBeats News, February 6: The People's Bank of China and eight other departments issued a notice on further preventing and disposing of risks related to virtual currencies. It mentioned the ongoing crackdown on virtual currency mining activities. The National Development and Reform Commission, together with relevant departments, strictly controls virtual currency mining activities and continuously promotes the rectification of virtual currency mining activities.

Provincial people's governments take overall responsibility for the rectification of mining activities in their respective administrative regions. In accordance with the requirements of the National Development and Reform Commission and other departments in the "Notice on Rectifying Virtual Currency Mining Activities" (Development and Reform Office [2021] No. 1283) and the provisions of the "Guiding Catalog for Industrial Adjustment (2024)," they will thoroughly review, investigate, and shut down existing virtual currency mining projects, prohibit the addition of new mining projects, and strictly prohibit domestic mining machine manufacturers from providing mining machine sales and other related services. (Jinse)