Virtual currency "mining" features have been listed as industry leading.

Chai Yaxin reported on the website of the National Supervision Commission of Central Discipline InspectionCryptocurrency “mining” operations have been listed as illegal trading. The National Development and Reform Commission website recently announced that it has reviewed and approved the "Decision on the Amendment of the 'Guidance Catalog for Industrial Restructuring (2019 Edition)' of the National Development Commission". development and reform. . " Item 7 is added to the "Catalogue of Guidelines on Industrial Restructuring (2019 Edition)" in the disposal categories "1. Obsolete technologies and production equipment" and "(18 ) Other", the titles are "Virtual Currency Mining Activities".

Since last year, our nationwide regulation of cryptocurrency regulation has been tightened, leading to the abolition of "mining operations" and a ban on market interference. Eleven departments, including the National Development and Reform Commission, issued a report on the review of the "Virtual Currency" mining operation (hereinafter referred to as the "Report"), which should be strengthened for the supervision of the top and low virtual currency electronic devices. Mining activities. Virtual currency "mining" activities are strictly prohibited. Not allowed.Before mining projects and expedite the orderly exit of existing projects. Ten departments, including the United States Securities and Exchange Commission, have previously reported that virtual currency has no legal implications as fiat currency and business-related activities is a financial crime.

"Mining" is classified as an industry recovery, what does it mean? What are the benefits of exchanging virtual profits on "mining" operations as part of optimizing industrial models and efforts to achieve carbon and carbon sequestration over time?The reporter interviewed Deng Jianpeng, a law professor at the Central University of Finance and Economics and director of the Fintech Law Research Center, and Guo Yungao, secretary of the Electric Energy Storage Institute of China Electric Power Technology Market Association.

What is virtual "mining"? What is the background?

Deng Jianfeng:Stopped,The function of cryptocurrency "mining" refers to the process of creating virtual currencies by counting "miners".The virtual currency represented by Bitcoin is a distributed blockchain system that requires network nodes to operate, manage and aggregate data exchanged at specific times on a chain to earn value. Receive virtual rewards through the gift system .

Virtual rewards use private human benefits (receiving virtual benefits as financial support) to achieve altruism (body functioning and control, improved security). The individuals or organizations that run these network nodes are commonly known in industries such as "miners" and the node count is "miners". "Miners" buy special computer hardware, compete for the right to collect chain exchange data and distribute it throughout the blockchain system, often referred to as "mining".

The "mining" industry has been very popular for quite some time, but what drives it?

Deng Jianfeng:Since 2019, the value of some virtual currencies, such as Bitcoin, has increased, and "trading" has become a lucrative and profitable activity.Driven by the rich profits, the “mining” industry has been driven out by some capital, and some companies are developing a virtual profit “mining” industry under the banner of developing advanced technologies such as blockchains. To encourage investment, some municipalities have imposed special rules on these “mining” companies in terms of finances, taxes and electricity bills.

Since the second half of 2020, the market value of the virtual currency represented by Bitcoin has increased sharply due to the halving effect.At the same time, the decentralized financial blockchain (known as "DeFi" in the industry) has launched a series of "liquidity mining" that calls for a discount due to concerns about American money due to l increase in the Fed. As the U.S. currency plummeted due to contagion, some venture capital firms in Europe and the United States held more virtual currencies, and some famous foreigners were "calling" some virtual currencies. These events have combined to lead to further growth in the cryptocurrency market. The value of cryptocurrency in the first half of 2021. This has led many "stock trading" home traders to enter the currency risk market patiently and confidently.

What are the side effects of "mining"? What are the key issues?

Guoyungao:Cryptocurrency "mining" is an energy-intensive industry that uses electricity at the expense of the entire human population and contributes unnecessarily to carbon emissions, which emit carbon sequestration and carbon targets. injustice. "Mining" also does not follow the direction of our country's economic development. The production cost is almost insignificant, and the financial risk of commodity exchange and trade is also very high. In a way, it's like taking a walk. on the verge of sin.

In fgeneral,The risks posed by the production and marketing of virtual currencies have become greater, with its existence and negative impact on the growth of the industry, and its chaotic and complex nature. Blind expansion can lead to energy conservation, reduced pollution, reduced carbon monoxide emissions. and good growth.

What are the benefits of our country's efforts to combat cryptocurrency "mining" activities and continuous improvement in oversight? "Mining" is included in the deletion category. What does it mean?

Deng Jianfeng:The advantages of virtual "mining" have been included in the elimination group, which means that our country will strive to save more energy and reduce carbon emissions to reduce carbon emissions.On the other hand, it has the advantage of lowering expectations and anticipations, and on the other hand, it also has a positive effect on the management of the financial and human economy by reducing the weak "cut waves" by investors without financial risk. stable.

Guoyungao:Virtual currency "mining" is officially registered as a business, launching a wide range of electronic devices that may malfunction and cause damage, to be able to work well and be efficient can get enough equipment electrical. It helps reduce energy consumption, reduce the amount of electricity distributed through the grid, and reduce greenhouse gas emissions from weak applications. It also supports the development of new industries such as energy storage, supports the development of new power plants, provides wind turbines, solar and other new renewable energy sources, and helps identify big changes in fossil energies. Low carbon renewable energy.It is very important to promote the improvement of our national industrial standards, promote energy conservation and reduce emissions, and achieve the goal of carbon monoxide and carbon neutrality.

What issues should we pay attention to when dealing with the confusion between virtual currency "mining" and virtual currency trading? What is the purpose of your work?

Deng Jianfeng :I think there are now two main reasons.One isInvestigate issues of state agencies directly or indirectly involved in "mining" their own interests, using resources or other basic circumstances.of themCryptocurrency has become a means of paying for certain financial and illegal transactions, and a tough fight against fraud and corruption such as money laundering, fraud, bad currency and financial fraud through virtual commerce.

The long-term mechanisms governing the chaos of virtual currency exchange should be the focus of future policymaking.There are two issues to pay attention to.Clearly "solar" and "turbidity" in the field of blockchain and strictly prohibited violations of laws and regulations.of themIn the face of advanced technology and the rapid development of the blockchain industry, the emphasis is on anticipating, predicting new forms of virtual currency impact before and after, and then researching and implementing implementing effective practices.

Generally speaking, supporting sustainable development is economic and social development during the "14th Five-Year Plan". In the case of local government,In the process of attracting investment, it is necessary to carefully identify the business characteristics of various industries and carefully consider their contribution to the national economy, their role in the development of economic, scientific and technological progress, resources natural and their impact on the social network. environment. .For companies,When investing in your setup, you need to consider whether this industry can support innovation in participatory, collaborative, business-driven, and successful growth. .