Inner Mongolia Autonomous Region to combat and discipline virtual currency “mining” behavior eight measures (draft for comment)

Announcement on the Public Consultation on the Eight Measures of the Development and Reform Commission of Inner Mongolia Autonomous Region on Resolutely Combating and Disciplining Virtual Currency “Mining” (Draft for Comments)

Inner Mongolia Autonomous Region to combat and discipline virtual currency "mining" behavior eight measures (draft for comment)

In accordance with the 51st meeting of the Financial Stability Development Committee of the State Council on the deployment requirements of combating bitcoin mining and trading, the strict implementation of the Inner Mongolia Autonomous Region on ensuring the completion of the “14th Five-Year Plan” energy consumption double control objectives and tasks of a number of safeguards to further clean up virtual currency “mining” behavior, strengthen the fight against discipline, build a long-term regulatory mechanism to maintain market order, big data industry environment and prevent financial risks, we have organized the drafting of the “Inner Mongolia Autonomous Region Development and Reform Commission on resolutely combating and disciplining virtual currency “mining” behavior eight measures (draft for public comment)”, is now open for public comment.

The consultation period is from May 25, 2021 to June 1, 2021. Please send your feedback by fax to 0471-6659212, 或以电子邮件形式发至nmgfgwhzc@126.com

Thank you for your participation and support!

Annex: Eight Measures of the Development and Reform Commission of Inner Mongolia Autonomous Region on Resolutely Combating and Punishing Virtual Currency “Mining” (Draft for Comments)

Development and Reform Commission of Inner Mongolia Autonomous Region
May 25, 2021

Annex.

Eight Measures of the Development and Reform Commission of Inner Mongolia Autonomous Region on Resolutely Combating and Disciplining Virtual Currency “Mining” Behavior

(Draft for Comments)

A. For industrial parks, data centers, self-provided power plants and other entities to provide sites and power support for virtual currency “mining” enterprises, according to the “Energy Conservation Law of the People’s Republic of China”, “Electricity Law of the People’s Republic of China” and other relevant laws and regulations, increase energy-saving monitoring efforts and reduce energy consumption budget targets; for the existence of intentional concealment, withdrawal and shutdown is not timely, approval and supervision is not effective, according to relevant laws and regulations and party regulations to seriously pursue responsibility.

Second, for large data centers, cloud computing enterprises and other subjects with virtual currency “mining” behavior, the competent departments to cancel all kinds of preferential policies, withdraw from the multilateral trading market of electricity in Inner Mongolia, according to the “Energy Conservation Law of the People’s Republic of China” to deal with strictly, seriously held accountable.

Third, the communication enterprises, Internet enterprises and other subjects have virtual currency “mining” behavior, according to the “People’s Republic of telecommunications regulations,” the relevant provisions of the competent departments shall revoke the value-added telecommunications business license, seriously held accountable.

Fourth, the Internet cafe and other subjects have virtual currency “mining” behavior, by the competent departments in accordance with the law on its suspension and rectification and other disposition.

Fifth, the unapproved private access to power supply virtual currency “mining” projects and other subjects, according to the “Criminal Law of the People’s Republic of China” and other relevant laws and regulations, its illegal power theft shall be transferred to the judicial authorities.

Sixth, the enterprises, individuals and other subjects in the form of virtual currency money laundering and other illegal acts, according to the “Criminal Law of the People’s Republic of China” and other relevant laws and regulations, according to the law referred to the judicial organs to deal with.

VII. For enterprises, individuals and other entities using virtual currency for illegal fund-raising and other acts, according to the “Regulations on Prevention and Disposal of Illegal Fund Raising” and other relevant laws and regulations, the competent departments to deal with strictly.

Eight, the existence of virtual currency “mining” behavior of the relevant enterprises and related personnel, in accordance with the relevant provisions of the blacklist of untrustworthy; public officials use their positions to participate in virtual currency “mining” or to provide convenience and protection, all referred to the discipline inspection and supervision organs to deal with.

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