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

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

Bitcoin.com 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".