Cryptocurrency mining is planned to be included in the list of industries to be eliminated. It was removed two years ago.

This notice clearly distinguishes the boundaries between "mining" and other industries such as blockchain, big data, and cloud computing, which is of great significance for promoting the optimization of my country's industrial structure, promoting energy conservation and emission reduction, and achieving carbon neutrality as scheduled.
On October 8, the National Development and Reform Commission publicly solicited opinions from the public on the "Negative List for Market Access (2021 Edition)", and re-included virtual currency mining in the elimination list.
The Negative List for Market Access (2021 Edition) lists 6 prohibited access items and 111 permitted access items, totaling 117 items. Among them, in the revision of the relevant measures of the Guiding Catalogue for Industrial Structure Adjustment on the last page, the elimination category "I. Outdated production process equipment" (XVIII) Other Item 7, the revised measure description adds: virtual currency "mining" activities.

As early as September 24, the National Development and Reform Commission, the Ministry of Public Security and other 11 departments issued the "Notice on the Rectification of Virtual Currency "Mining" Activities". The notice pointed out that it is necessary to strengthen the supervision of the entire upstream and downstream industrial chain of virtual currency "mining" activities, strictly prohibit the addition of new virtual currency "mining" projects, accelerate the orderly withdrawal of existing projects, promote the optimization of industrial structure and help achieve the carbon peak and carbon neutrality goals as scheduled.
The notice emphasizes that "virtual currency 'mining' activities" will be added to the "elimination category" of the "Guidelines for Industrial Structure Adjustment (2019 Edition)". Before the addition, virtual currency "mining" projects will be treated as eliminated industries and investment will be prohibited in accordance with the relevant provisions of the "Decision of the State Council on Issuing and Implementing the <Interim Provisions on Promoting Industrial Structure Adjustment>" (Guofa [2005] No. 40).
Chen Xiaohua, an expert at the Whale Platform think tank and digital economist, said in an interview with the Blockchain Daily reporter that the "mining" industry not only consumes a lot of energy, but also has limited driving effects on high-quality economic development, scientific and technological progress, etc., and may trigger virtual currency-related risks, which will have an adverse impact on my country's financial system.
Chen Xiaohua further explained that the notice clearly distinguishes the boundaries between "mining" and other industries such as blockchain, big data, and cloud computing, which is of great significance to promoting the optimization of my country's industrial structure, promoting energy conservation and emission reduction, and achieving carbon neutrality as scheduled.
"Once the draft of the National Development and Reform Commission's Negative List for Market Access (2021 Edition) is passed, it will become the legal basis." Chen Xiaohua pointed out that if virtual currency "mining" projects are regarded as obsolete industries and included in this negative list, it will basically be impossible for local governments to approve projects for industries such as "mining", and virtual currency mining projects will face greater cleanup efforts.
In fact, as early as 2019, the National Development and Reform Commission attempted to include virtual currency mining in the list of eliminated industries.
On April 8, 2019, in the "Guidelines for Industrial Structure Adjustment (2019 Edition, Draft for Comments)", virtual currency "mining" activities were listed as obsolete industries, belonging to the category of "outdated production technology and equipment", and mining activities were also listed as industries that should be "eliminated immediately".
According to this catalogue, the obsolete categories mainly include backward processes, technologies, equipment and products that do not comply with relevant laws and regulations, do not meet safety production conditions, seriously waste resources and pollute the environment, and need to be eliminated.
However, on November 6, 2019, the Chinese government website released the "Guidelines for Industrial Structure Adjustment (2019 Edition)". According to the content of the document, "virtual currency mining", which was once listed in the category of eliminated industries, was deleted from the released guidance catalogue.
Chen Xiaohua analyzed to the reporter of Blockchain Daily that although the National Development and Reform Commission deleted "virtual currency mining" from the elimination list in 2019, it does not mean that the country affirms or encourages mining behavior. As the popularity of Bitcoin has increased since 2020 and the price of the currency has fluctuated, domestic financial fundraising fraud crimes involving virtual currency have emerged in an endless stream, and the increased difficulty of mining has led to a further increase in energy consumption, which has seriously affected the power supply balance in some areas.
Chen Xiaohua pointed out that although the NDRC published a draft for soliciting opinions, under the current situation, it is a foregone conclusion that virtual currency mining activities will be included in the list of eliminated industries. (Cailian News Agency)