Sino-Singapore Jingwei Client, July 15th (Zhang Meng), on the 14th, the topic # Anhui Comprehensive Shutdown of Virtual Currency Mining Project# was posted on Weibo's hot search.

It is reported that Anhui will strictly control new high-energy, high-power-consuming projects, and comprehensively clean and shut down virtual currency mining projects built in various names.

So far, Anhui has become the sixth province in the country to clean up virtual currency mining projects.

  On May 21 this year, the Financial Stability and Development Committee of the State Council held its 51st meeting and mentioned that it would crack down on Bitcoin mining and trading and resolutely prevent individual risks from being transmitted to the social field.

  In response to why it is necessary to crack down on Bitcoin mining and trading, Fan Yifei, deputy governor of the central bank, pointed out at the State Information Office briefing on July 8 that Bitcoin and various "stable coins" and other private digital currencies have become speculative. Sexual tools have become payment tools for some money laundering and illegal economic activities. There are potential risks that threaten financial security and social stability, and may bring risks and challenges to the international monetary system and payment settlement system.

  Public reports show that virtual currency mining is generally concentrated in Xinjiang and Inner Mongolia, which are rich in thermal power, and Yunnan, Sichuan, and Guizhou, which are rich in hydropower.

  According to incomplete statistics, as of now, six provinces including Inner Mongolia, Yunnan, Xinjiang, Qinghai, Sichuan, and Anhui have closed down virtual currency mining projects.

  Among them, a series of clean-up actions in Inner Mongolia received the highest attention.

On February 25, the Inner Mongolia Development and Reform Commission issued the "Several Safeguard Measures for Ensuring the Completion of the Energy Consumption Dual Control Targets during the Fourteenth Five-Year Plan Period (Draft for Comment)", proposing that virtual currency mining projects will be cleaned up and shut down by the end of April 2021 All exits, and new virtual currency mining projects are strictly prohibited.

On May 18, the Inner Mongolia Development and Reform Commission announced the establishment of a virtual currency "mining" corporate reporting platform.

On May 25, the Inner Mongolia Development and Reform Commission put forward different crackdown and disciplinary strategies based on eight types of targets.

  Pan Helin, executive dean and professor of the Institute of Digital Economy of Zhongnan University of Economics and Law, told reporters from Zhongxin Jingwei that there are two main reasons for shutting down virtual currency mining projects in various places: one is that the country has qualitatively determined virtual encryption currency in China. Comprehensively rectify virtual currency, and all localities respond to the call of the state to govern virtual currency mining projects.

The second is that there are carbon emission tasks in various regions. Under the pressure of energy saving and emission reduction in the future, mining consumes a lot of energy, which is not conducive to the promotion of energy saving and emission reduction in localities. Therefore, it is inevitable to clear mining.

  Pan Helin predicts that in the future, virtual currency mining projects will be shut down nationwide. Now that they have been set as illegal and cracked down, they will eventually spread across the country.

(Zhongxin Jingwei APP)

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