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China’s new mining restrictions – what has changed

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Crypto News

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The Chinese authorities have added cryptocurrency mining to the list of industries in which investments are prohibited or limited.

On Friday, the government planning department presented a draft version of the so-called “negative list”. It includes types of activities, the support of which is unacceptable for both domestic and foreign investors. In general, in the last variation, the list became shorter, but it was supplemented by mining.

This year, the State Council of the People’s Republic of China singled out bitcoin mining as one of the financial risks to be monitored, and the People’s Bank of China last month called cryptocurrency transactions “illegal.” As a result, most of the miners were initially forced to leave the territory of the country; subsequently, cryptocurrency exchanges began to restrict access to their services from China.

As noted by the National Commission for Reform and Development, this year there were 117 industries on the list, while in the past there were 123. The types of activities that are not on the list are freely available for investment without additional permits.

Chinas new mining restrictions what has changed

Recall that operations with cryptocurrencies have been banned in China.

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