It is imperative to “clear” virtual currency mining activities

In recent years, with the popularity of Bitcoin and other virtual currencies overseas, many profit-seekers have been attracted by the temptation of huge profits, spawning a large number of virtual currency "mining" activities. .

"Mining" is the process of using computers to perform specific operations to obtain virtual currencies such as Bitcoin. People who mine are called miners. They use computer calculations to keep accounts and maintain the operation of the virtual currency system to obtain accounting rewards. The stronger the computing power of the computer, the higher the probability of receiving accounting rewards. The virtual currency obtained The more money there is.

Virtual currency mining has a negative impact on promoting high-quality economic and social development and energy conservation and emission reduction. The financial risks derived from the production and trading of virtual currencies are prominent and have extremely high investment risks, which can easily cause huge property losses to many retail investors. Illegal "mining" activities disrupt the normal financial market order and spawn illegal and criminal activities. In addition, due to the high requirements for computer computing power in mining, Bitcoin "mines" are often concentrated in areas with abundant water and electricity resources, which consume huge amounts of electricity. And since the total supply of Bitcoin remains unchanged, the more "mining" margins The less it is, the higher and higher the energy consumption is for each Bitcoin “mined”. Our country consumes hundreds of billions of kilowatt-hours of electricity every year for Bitcoin “mining,” correspondingly producing tens of millions of tons of carbon emissions.

In order to effectively curb virtual currency mining, my country has strengthened the supervision of the entire upstream and downstream industry chain of virtual currency "mining" activities, and strictly prohibits new virtual currency "mining" projects. In September 2021, ten departments including the National Development and Reform Commission jointly issued the "Notice on Regulating Virtual Currency "Mining" Activities" (hereinafter referred to as the "Notice"), which strictly prohibits investment in the construction of incremental projects and the development of virtual currency "mining" in any name. "project; accelerate the orderly withdrawal of existing projects. Strictly implement relevant laws, regulations and rules, and seriously investigate and punish illegal virtual currency "mining" activities in various places. In the future, we will continue to carry out comprehensive rectification focusing on industrial centralized "mining", state-owned units involved in "mining" and Bitcoin "mining". For units that implement residential electricity prices, if they are found to be involved in virtual currency "mining" activities, we will study the imposition of punitive electricity prices, forming a high-pressure situation to continue to rectify virtual currency "mining" activities and ensure that all forms of "mining" “The behavior was effectively cleaned up.

Regulating virtual currency “mining” activities is of great significance to promoting the optimization of my country’s industrial structure, promoting energy conservation and emission reduction, and achieving carbon peak and carbon neutrality goals as scheduled. It is believed that by effectively treating virtual currency “mining” activities as an important task in promoting high-quality economic and social development, seizing key links, taking effective measures, and comprehensively rectifying virtual currency “mining” activities, my country will achieve the goal of virtual currency mining. The goal of "zeroing out" is not far away.