China proposes adding cryptocurrency mining to ‘negative list’ of industries By Reuters

© Reuters. FILE PHOTO: Individuals relaxation at a park close to Beijing’s central enterprise space, China August 29, 2017. Image taken August 29, 2017. REUTERS/Jason Lee

BEIJING (Reuters) -China has added cryptocurrency mining to a draft record of industries by which funding is restricted or prohibited, though it decreased the variety of sectors on the record total, a doc launched by the state planner confirmed on Friday.

The “destructive record” particulars sectors and industries which can be off-limits to each Chinese language and international buyers.

Regulators in China banned cryptocurrency buying and selling and mining this yr, with the nation’s central financial institution vowing to purge “unlawful” cryptocurrency actions final month. The crackdown has prompted cryptocurrency exchanges to chop ties with Chinese language customers.

China additionally has been tightening management over public discourse, cracking down on present enterprise for “polluting” society and asking cell browsers to eradicate the spreading of rumours, the usage of sensationalist headlines and the publishing of content material that violates the core values of socialism.

The state planner mentioned it was halting the funding of “personal” capital into quite a lot of publishing actions, together with reside broadcasts, news-gathering, modifying and broadcasting entities and the operation of reports.

Private capital can’t be concerned within the introduction of reports launched by abroad entities or summits and award choice actions within the subject of reports and public opinion, the NDRC added.

The draft 2021 record of industries by which funding is both restricted or prohibited has been reduce to 117, the Nationwide Growth and Reform Fee mentioned, down from 123 in 2020.

Industries not on the record are open for funding to all with no approvals required.

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