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

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BEIJING, Oct 8 (Businesshala) – China has added cryptocurrency mining to a draft list of industries in which investment is restricted or prohibited, although it has reduced the number of sectors on the list overall, a document released by state planners on Friday said. have been shown.

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The so-called ‘negative list’ details sectors and industries that are off-limits to both Chinese and foreign investors.

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Regulators in China banned cryptocurrency trading and mining this year, with the country’s central bank vowing last month to eliminate “illegal” cryptocurrency activities. This action has prompted cryptocurrency exchanges to cut ties with Chinese users.

The National Development and Reform Commission said its 2021 list of industries in which investment is restricted or restricted has been reduced to 117, down from 123 in 2020.

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Industries not on the list are open for investment to all without any approval.

Reporting by Colin Qian in Beijing and Twinnie Siu in Hong Kong; Editing by Toby Chopra

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