China Suggests Adding Cryptocurrency Mining To The “Negative List” Of Industries By Reuters

© Reuters. FILE PHOTO: People are resting in a park near the central business district of Beijing, China, August 29, 2017. Image dated August 29, 2017. REUTERS / Jason Lee

BEIJING (Reuters) – China has included cryptocurrency mining in a draft list of industries where investment is restricted or banned, although the number of sectors on the list has been reduced overall, according to a document released by state planners on Friday.

The “negative list” includes sectors and industries that are taboo for both Chinese and foreign investors.

Regulators in China banned the trading and mining of cryptocurrencies this year, with the country’s central bank pledging to https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency- trading-2021-09. to clean up -24 “illegal” cryptocurrency activity in the past month. The crackdown has caused the cryptocurrency exchanges to close the connections https://www.reuters.com/technology/cryptocurrency-exchanges-rush-cut-ties-with-chinese-users-after-fresh-crackdown-2021-09-27 with Chinese cut back users.

China has also tightened control over public discourse and taken action against show business https://www.reuters.com/world/china/china-radio-tv-body-strengthen-regulation-cultural-programmes-salaries-2021-09 -02 for “polluting” society and soliciting mobile browsers https://www.reuters.com/article/us-china-censorship-browsers-idUSKBN27B1Z3, spreading rumors, using sensational headlines and the To prevent the publication of content that violates the basic values ​​of socialism.

The state planner said it would stop investing “non-public” capital in a variety of publishing activities, including live broadcasting, news gathering, editorial and broadcasting, and news operation.

Non-public capital must not be involved in launching news published by overseas agencies or summits, and selecting awards in the field of news and public opinion, the NDRC added.

According to the National Development and Reform Commission, the draft of the 2021 list of sectors in which investments are either restricted or prohibited has been reduced from 123 in 2020 to 117.

Sectors not on the list are open to all for investment with no approval required.

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