In one of China's regions, the topic of banning the mining of cryptocurrencies was raised again

The authorities of the region consider the virtual currency mining industry to be another manifestation of pseudo-financial innovations unrelated to the real economy and therefore unworthy of support.

It is reported that the solution of this task is carried out in two stages. The first stage takes place from 3 to 25 September and involves independent action by municipal authorities, the second - from 10 to 30 October, with the participation of a supervisory group, followed by a report on the correction of the situation.

It should be noted that this is not the first case when the subject of banning mining in China is raised. Thus, in April, the National Development and Reform Commission announced the collection of comments on the new list of priorities for the country's industrial development, in which mining was classified as an undesirable activity. According to the agency, the industries falling into this category violate the requirements of current laws, are unsafe, use resources or pollute the environment, and mining, in particular, hinders the further development of the country.

In November 2017, against the backdrop of a ban on cryptocurrency trading in China, the Sichuan Electric Power Company issued a statement stating that Bitcoin miners were violating the country's laws and should immediately stop illegal activities. Subsequently, it turned out that the information disclosed was incorrect.

Partner of the Primitive Fund, Davy Wang, notes that this time the authorities propose to limit not only the extraction of cryptocurrencies, but also "cloud computing, big data, IDC and data centers" - these are the categories of miners that usually classify their business as not causing unnecessary questions from the state.

"I doubt this proposal will have any consequences," she adds.