October 22, 2021

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China Plans to Ban Investments in Cryptocurrency Mining

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October 10, 2021 03:06 GMT

Public discussion of the list of activities prohibited to investors will continue until October 14.

China has added cryptocurrency mining to a draft list of activities in which investment is prohibited, reach Reuters citing the document.

Meanwhile, the total number of activities closed to investors has decreased. In this year’s project there are 117 projects, while in 2020 the list included 123.

Public discussion of the project will continue until October 14, pointing to Bitcoin portal.

Beijing’s campaign against cryptocurrencies has been going on since May. After that, the Chinese authorities caused a sharp drop in Bitcoin ban Financial institutions and payment companies to provide services related to cryptocurrency transactions, while warning investors against speculative operations in digital currencies.

In June, China hill 26 cryptocurrency mining centers, representing 90% of the country’s crypto-mining capacity. next month, blocking Access to the world’s largest crypto exchange, Binance.

September 24 Beijing announce All business operations related to virtual currencies are illegal. According to the authorities of the Asian giant, in recent years, the unbridled expansion of virtual currencies such as Bitcoin has caused disruption The economic and financial system, in favor of criminal activities such as money laundering and seriously endangering the security of everyone’s property.

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