China has recently been demonstrating its open war on cryptocurrencies and its mining, with the announcement of several measures, such as considering that cryptocurrency transactions are illegal throughout the country.
But the arm wrestling continues, where in the latest chapter, the Asian country to add the mining of cryptocurrencies to the "negative list" of industries.
With this measure, China is showing strongly that it will not budge when it comes to extraction and payments with digital currencies. According to news from Reuters, China wants cryptocurrency mining to be added to the 'negative list' of industries, which lists the names of sectors and industries in which investment is restricted or prohibited. That is, all entities that are beyond the reach of Chinese and foreign investors.
According to the renowned newspaper, this news is contained in a state document released last Friday, October 8th.
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It should be noted that this 'negative list' for 2021 was reduced from 123 names in 2020 to 117 names, according to that country's National Development and Reform Commission. On the other hand, industries not on the list can be freely used by everyone for investment, without the need for extra approval and acceptance.
This decision by China comes in the course of the country against digital currencies, where it has currently banned the trade and mining of cryptocurrencies, and according to several experts the Chinese central bank really wants to eliminate all illegal activities related to this market. Due to these measures of the Chinese government, the relationship between the population of China and cryptocurrencies has significantly decreased, practically non-existent nowadays.
It should also be noted that the country's central bank announced that all cryptocurrency transactions are illegal, even banning digital currencies such as Bitcoin. These and other currencies are not fiat money and therefore cannot be distributed on the market.
