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

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Bitcoin on display.

Chesnot| Getty Images

China’s draft list of restricted and prohibited industries includes cryptocurrency mining, though it reduces the total number of sector on the list, according to Friday’s document by the state planner.

This “negative list” lists industries and sectors that are closed to Chinese or foreign investors.

China has banned cryptocurrency mining and trading this year by regulators. country’s central bank vowing to purge “illegal” cryptocurrency activities last month.

To combat the crackdown, cryptocurrency exchanges have been able to open. cut ties with Chinese users

China has also tightened its control on public speech. cracking down on show business for “polluting” societyAsking mobile browsers not to spread rumors or publish content that offends socialism’s core values.

A state planner stated that it would stop the investing of non-public capital in various publishing activities such as live broadcasts, editorial and broadcasting entities, and operation of news.

The NDRC stated that non-public capital can’t be used to introduce news from overseas organizations or summits, and other award selection activities in news.

According to the National Development and Reform Commission (NDRC), the 2021 draft list of industries where investment is restricted or prohibited was reduced to 117. This compares with 123 for 2020.

All industries not listed on this list can be invested in without approval.

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