Closures, power hikes, public warnings ... 12 states have taken action to curb cryptocurrency mining

China-Singapore Jingwei, December 8 (Xiong Siyi) In one year, 12 states have taken steps to adjust the virtual currency "market", according to incomplete data. In the past, the National Development and Reform Commission and 11 other departments released the following data: Virtual currency "mining" operations as a withdrawal from the market.

On December 7, the Supreme Court announced the arrest of Xiao Yi, former chairman of the Jiangxi Provincial Justice Council in China. The Central Security Council has previously said that Xiao Yi violates his right to inform and encourage companies to participate in “commercial” virtual benefit activities that do not comply with the provisions of national economic law.

Ilbo Law pointed out that at the time in South Korea, officials were gravely ill for their cryptocurrency "mining" activities. Virtual currency "mining" game refers to the process of counting and creating virtual currencies by focusing on the "mining machine" and requires a lot of energy.

According to data, the world uses 134 billion kilowatt-hours of electricity to "mine" virtual currency. The energy used for each Bitcoin "generated" is equivalent to the electricity consumed by a family of three in one year.

In September of this year, the National Development and Reform Commission and 11 other agencies issued a "Notice of Innovation in Virtual Currency Mining Activities" indicating that virtual currency mining activities use more money. energy and carbon emissions and produce less. to contribute. Contribute to the national economy and promote the development of the economy The important role of research and technology is limited, the risks posed by the production and marketing of virtual services have been reported, and blindness and poor development may affect support. economic and social development, energy savings and reduction of emissions.

The above notes make it clear that products in addition to “virtual currency” mining operations are included in the “withdrawal category” of the “Industrial Restructuring Guidance Catalog (2019)”. Prior to the announcement, virtual "mining" profits were processed under previous market conditions and investments were limited in accordance with applicable regulations.

According to incomplete statistics, since 2021, 12 provinces of Inner Mongolia, Yunnan, Xinjiang, Qinghai, Sichuan, Anhui, Hebei, Jiangsu, Zhejiang, Fujian, Jiangxi and Hainan have took steps to improve their "business" of virtual benefits.

In particular, Inner Mongolia announced its first venture to clean up the virtual reality “business”. In March, the Inner Mongolia Development and Reform Commission announced the talks and said that virtual financial projects were to be completed and closed, and all virtual mining benefits were to be withdrawn by the end of April. In May 2021, Inner Mongolia developed an advertising platform for virtual banking “mining” companies and developed eight disciplines.

Subsequently, Xinjiang, Qinghai, Sichuan, Yunnan and other provinces quickly followed and became "markets" for virtual currencies, especially Bitcoin, to clean and repair them. After the 11 agencies released the report, provinces such as Jiangsu, Zhejiang, Fujian and Jiangxi also took action. On December 3, the Hainan Province Development and Reform Commission clarified the difference between the electricity tariffs for virtual "mining" benefits, and the increase was 0.80 yuan per kilowatt hour.

Meng Wei, spokesperson for the National Development and Reform Commission, told a meeting in November that the next steps would focus on "mining", "mining" of medium-sized enterprises and companies. state agencies concerned about Bitcoin mining. will do. Improvements .. For households using electric bills, if they find they are indulging in virtual "mining" profits, they learn about electric bills to create events of turmoil that continue to transform. virtual profits from "mining" activities. . .