China’s crypto mining industry is listed on negative list
Following last month’s monitoring unit prohibits the encryption currency transaction and mining, Chinese regulators currency units now proposed to encrypt mining classified as “limited” or “No” investment projects “negative list” of industrial; once they are included in the negative list No matter whether it is overseas funds or Chinese domestic funds, investment is not allowed crypto mining industry.
In the United States, the White House is also considering large–scale supervision of the cryptocurrency market to combat the increasingly serious ransomware and cybercrime.
In the draft negative list of China’s National Development and Reform Commission (NDRC) this year, the number of industries has been reduced from 123 to 117; the remaining industries that are not on the list can be invested without additional review.
China’s high–pressure policies have caused the exchange of cryptocurrency to disrupt domestic user services in China. The Chinese government claims that digital currencies have caused doubts about money laundering and other financial crimes, increasing carbon emissions and energy consumption, but at the same time testing cryptocurrencies issued by the government; some speculations , China hopes to have a digital currency that the government can more directly control crypto mining industry.
It is reported that more than 20 cryptocurrency–related companies have announced that they will stop providing services to Chinese users and have completely withdrawn from the Chinese market.
The White House is also evaluating the regulation of the cryptocurrency market; a spokesperson for the White House National Security Council said: “The National Security Council and the National Economic Commission (NEC) inter–ministerial committee are working together to examine ways to ensure that cryptocurrencies and other digital assets will not become illegal.” Bloomberg News pointed out that government supervision may include the issuance of new executive orders.
Ransomware usually encrypts the victim’s data. When the hacker receives a high cryptocurrency payment, he provides the victim’s key to unlock the file. Earlier this month, President Biden stated that the national security adviser would discuss the crackdown with officials from 30 countries. Ransomware and cybercrime.
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