The business of "mining" has aroused the attention of all localities to the "mining" of Sichuan virtual currency.

Our reporter JUNG WOO reports from Beijing.

With the increasing supervision of bitcoin, the output activity of bitcoin-"mining" has also attracted great attention from all over the world.

According to a meeting notice learned by the reporter of China Business News, the Sichuan Supervision Office of the National Energy Administration issued the Notice on Holding a Symposium on Virtual Currency Mining Research on May 25th. A person close to Sichuan supervision told China Business News: "This meeting is held to understand and collect relevant information."

On the same day, the Development and Reform Commission of Inner Mongolia Autonomous Region (hereinafter referred to as the "Inner Mongolia Development and Reform Commission") also announced the "Eight Measures on Resolutely Combating and Punishing Virtual Currency Mining" (hereinafter referred to as the "Draft for Comment"), and lowered the energy consumption budget targets of industrial parks, data centers, self-owned power plants and other entities to provide venues and power support for virtual currency mining enterprises; Those who deliberately conceal and fail to report, repel and shut down in time, and have poor examination and approval supervision shall be seriously investigated for responsibility in accordance with relevant laws and regulations and party internal regulations.

Behind the simultaneous voice of Sichuan and Inner Mongolia, China Internet Finance Association, China Banking Association and China Payment and Clearing Association jointly issued a document requesting financial institutions not to provide virtual currency-related services. The the State Council Financial Stability and Development Committee held a meeting to point out that bitcoin mining and trading should be severely cracked down.

Local governments strictly enforce regulatory requirements.

"Mining" is the process of obtaining bitcoin. In this process, computers are needed to perform operations, and the difficulty of operations will be positively related to the number of participants. Therefore, all parties will compete with each other under the goal of seeking profits, which will consume a lot of electricity and energy.

At present, Inner Mongolia is preparing to take a number of measures to rectify the local virtual currency related business.

With regard to the background of the draft for comments on May 25th, the Inner Mongolia Development and Reform Commission indicated that it was to strictly implement the "Several Safeguards to Ensure the Completion of the Targets and Tasks of Double Control of Energy Consumption in the Tenth Five-Year Plan" in accordance with the deployment requirements of the 5/KLOC-0 meeting of the the State Council Financial Stability and Development Committee, further clean up the "mining" behavior of virtual currency, strengthen the crackdown and punishment, build a long-term supervision mechanism, and maintain market order and big data.

The exposure draft requires relevant enterprises and lists relevant subjects in detail, including industrial parks, data centers, power suppliers of self-provided power plants, mining big data centers, and cloud computing enterprise participants.

For example, the situations listed in the exposure draft and the corresponding measures are as follows: if there are virtual currency "mining" behaviors in communication enterprises, Internet enterprises and other entities, according to the relevant provisions of the People's Republic of China (PRC) Telecommunications Regulations, the competent authorities will revoke the business license of value-added telecommunications services according to law and seriously investigate the responsibilities; Internet cafes and other subjects have virtual currency "mining" behavior, and the competent department shall suspend business for rectification and other disposal according to the law; For unauthorized virtual currency "mining" projects that have been connected to the power supply, according to the Criminal Law of People's Republic of China (PRC) and other relevant laws and regulations, the illegal stealing of electricity will be transferred to judicial organs for legal treatment.

What can be seen is that under the general trend of "carbon neutrality", all localities are increasingly wary of the "mining" business of virtual currency.

A few days ago, the Sichuan Supervision Office of the National Energy Administration issued the Notice on Holding a Symposium on Virtual Currency Mining Research. The contents of the meeting included asking State Grid Sichuan Electric Power Company and Sichuan Energy Investment Group to report on the "mining" of virtual currency in their respective supply areas and related suggestions. At the same time, according to the meeting arrangement, Sichuan Electric Power Trading Center will report on the participation of big data enterprises in the hydropower consumption demonstration zone in market transactions and related suggestions; The power sales company reported on the participation of big data companies in market transactions and related suggestions.

There are still enterprises that provide services against the wind in China.

Although the market rules and investment risks of "mining" in the eyes of the storm have risen sharply under the attention of several rounds of supervision, there are still "adventurers" who are reluctant to give up profiteering.

On May 26th, many domestic virtual currency mining service platforms announced that they would suspend their registered accounts in China, block Chinese mainland's IP, or move overseas. On May 27, the reporter tested the above-mentioned platforms claiming to block domestic IP, and found that many of them can still use domestic IP to log in, register, pay electricity bills and rent mining machines for remote "cloud mining" investment.

"'out to sea' which is so easy? American mining pays high taxes and fees, and paying taxes and fees will not guarantee legitimacy. At present, platforms claiming that overseas mining is legal and compliant are covering up one thing-overseas mining only pays ordinary corporate income tax. Foreign countries have not recognized the legal compliance of mining. The country is still a mining' battlefield' that everyone is reluctant to give up. " A miner told reporters.

Xiao Sa, director of China Banking Law Research Association, said frankly that the current popularity of mining and the enthusiasm of participants can be seen. Where there is demand, there is supply. It can be predicted that people who buy mining machines cannot easily discard them, and many people should continue to "underground" mining. "It must be understood that the continued exploitation of encrypted tokens will continue to oppose the law, and not only China, but also countries' cautious attitude towards digital tokens will be reflected in all aspects. With the erosion of virtual currency on legal tender and financial security, the laws and law enforcement of various countries will only become stricter and stricter. Whether you like it or not, the law is there. "

Lawyer Sun Jun, a partner of Shanghai Shen Hao Law Firm, reminded that the current crackdown on bitcoin mining and trading is mainly aimed at the financial activities of platform enterprises (financial institutions, clearing institutions, Internet companies, listed companies and other institutions). However, it is not illegal for individual investors to hold or buy or sell virtual currency, but they cannot relax their vigilance and need to guard against being used by criminals. "Don't buy or sell virtual currency for a suspicious third person, and don't buy or sell virtual currency to unfamiliar people, otherwise you may be involved in online gambling, telecom fraud or underground money houses, implicated as an accomplice or an accomplice who conceals or conceals the proceeds of crime, so you will be punished by criminal law."