Virtual resource recovery mining activity notice

On September 24, 11 departments including the National Development and Reform Commission published a “Virtual Currency Innovation Notice” “Mining Operation”.

The “Report” states that “only” virtual currency refers to the process of counting virtual currency by a special “mining machine”. With high energy consumption and carbon emissions, low participation in the national economy, no impact on the economy and economic prosperity, and the increasing risk of producing and marketing virtual benefits, blindness and low growth are important for economic and social well-being. development. and will have a negative impact on motivation. Conservation and reduction of emissions.

According to the regulations, many departments will cooperate to support the supervision of the entire trade chain of virtual currency "mining" activities, to prevent new virtual currency "mining" projects, improve the physical decision on existing projects, support the optimization of the business model, and that. will help. At peak carbon, the middle carbon target was reached on time.

Some measures include the division of existing and new tasks in construction, strengthening the monitoring and evaluation of variable energy consumption, strengthening the dual control of electricity use for new "mining" projects. "Virtual" and the elimination of virtual "mining" results. , conduct virtual currency "mining" activities on behalf of data centers, strengthen data center credit monitoring and strictly prohibit the installation of telegraphs and energy using virtual currency "mining" companies. Ban on new "only" virtual money programs Provide financial and tax assistance, investigate and prosecute illegal use of electricity according to law, regulate different electricity tariffs, ban "businesses" from profits to participate in the electricity industry, eliminate all virtual profits "mining" projects Financial and fiscal incentives for the cessation of "mining" in virtual currency "The project provides financial assistance and timely withdrawal in accordance with "Catalog of industry restructuring guidelines", eliminating liability, strengthening regulation, strengthening maintenance and completion.

In addition, 10 departments, including the Joint Venture Corporation, have published the "Virtual Hype Risk Protection and Exploitation Notice" which outlines the main characteristics of virtual and virtual transactions.

He pointed out that virtual currencies do not have the same rights as fiat currency rules. Cryptocurrencies such as Bitcoin, Ethereum, and TEDA coins are typically issued by non-financial organizations using crypto technology and distributed funds or similar technologies, and are available digitally. It is used to earn money in stores, used in travel.

In addition, the "Notice" makes it clear that the business activities associated with virtual goods are illegal financial activities and that the liability is recognized under the Act on Providing Virtual Currency Services and Interfering in Financial Transactions. criminal. Trading with people in our country on the Internet is also a financial crime. ; Trading in virtual currency investments involves legal risks.

At the same time, "Alert" calls for the development and improvement of procedures to deal with the risks of speculation in virtual currency trading, strengthening of supervision and early warning of reflection risks in trading. virtual currencies, and more. multiple and versatile applications. Improve the level of risk prevention and treatment, organizations and practices.

According to data from CoinMarketCap, as of 4:00 p.m. in Beijing on September 24, the virtual currency market fell, the value of Bitcoin fell almost 10%, and the value of Ethereum fell directly below $ 3,000 cim.

Based on the closing price of the US stock market on September 24, shares of the blockchain concept generally fell 9.88% for Bit Mining, 12.78% for Nine City, 7.26% for Ibang International, 21.16% for Canaan Technology and 2.39% for Coinbase.

The behavior of cryptocurrencies in the global market has also become more stringent. The US administration recently warned economists that they faced the risk of recurring misconduct before the 2008 financial crisis.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler (Gary Gensler) said U.S. security regulations give the SEC more power than digital tokens. "The US Congress can help fill some of the 'gaps' in digital token legislation, such as the regulation of cryptocurrency exchanges."

According to the press, the cryptocurrency cycle is not yet perfect. According to data from coinmarketcap, the price of Bitcoin fell 0.72% in 24 hours to US $ 42,073.87 and the price of Ethereum fell 1.52% to US $ 2,856.36. 24 hours.