China’s crypto mining industry is listed on negative list

crypto mining industry

China’s crypto mining industry is listed on negative list

Following last month’s monitoring unit prohibits the encryption currency transaction and miningChinese regulators currency units now proposed to encrypt mining classified as “limited” or “No” investment projects “negative list” of industrialonce they are included in the negative list No matter whether it is overseas funds or Chinese domestic fundsinvestment is not allowed crypto mining industry.

crypto mining industry

crypto mining industry

In the United Statesthe White House is also considering largescale 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 (NDRCthis yearthe number of industries has been reduced from 123 to 117the remaining industries that are not on the list can be invested without additional review.

China’s highpressure policies have caused the exchange of cryptocurrency to disrupt domestic user services in ChinaThe Chinese government claims that digital currencies have caused doubts about money laundering and other financial crimesincreasing carbon emissions and energy consumptionbut at the same time testing cryptocurrencies issued by the governmentsome 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 cryptocurrencyrelated companies have announced that they will stop providing services to Chinese users and have completely withdrawn from the Chinese market.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 marketa spokesperson for the White House National Security Council said: “The National Security Council and the National Economic Commission (NECinterministerial 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 dataWhen the hacker receives a high cryptocurrency paymenthe provides the victim’s key to unlock the fileEarlier this monthPresident Biden stated that the national security adviser would discuss the crackdown with officials from 30 countriesRansomware and cybercrime.

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