China adds crypto mining to 'negative list', limits or bans investment

China pushes crypto mining into the 'negative list' of industries, clamping down on the investment into crypto mining operations.

Published Oct 9, 2021 7:08 PM CDT   |   Updated Wed, Nov 3 2021 4:13 PM CDT
1 minute & 33 seconds read time

China is continuing to put the big squeeze on cryptocurrency, Bitcoin, and other crypto mining operations -- whether they're Chinese citizens or foreigners.

China adds crypto mining to 'negative list', limits or bans investment 01 is reporting that China's Development and Reform Commission is asking for public commentary on a list -- a negative list that the Chines government would see limiting, or outright banning investment into the crypto mining industry -- or any industry that the CCP doesn't like.

China has already stamped crypto transactions as illegal, which makes it hard for anyone in the country to use or adopt cryptocurrency. China -- of course -- has been testing its own cryptocurrency but doesn't want any other cryptocurrency to be used in the country it seems.

The Chinese government has a "negative list" for these markets, businesses, and more with a 2021 draft titled "Negative List for Market Access". China's National Development and Reform Commission is the state planner, with the Commission and Ministry of Commerce joining forces for the list.

The State Council explained: "The negative list for market access outlines sectors, fields, and businesses off-limits for investors. Industries, fields, and businesses not on the list are open for investment to all market players".

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Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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