The People's Bank of China and eight other departments announced a continued crackdown on cryptocurrency mining activities.

The People's Bank of China and eight other departments issued a notice on further preventing and handling risks related to virtual currencies. The notice mentioned the continued crackdown on virtual currency mining activities. The National Development and Reform Commission, together with relevant departments, will strictly control virtual currency mining activities and continue to promote the rectification of such activities. Provincial-level people's governments are fully responsible for the rectification of mining activities within their respective administrative regions. In accordance with the requirements of the "Notice on Rectifying Virtual Currency Mining Activities" (NDRC Operation [2021] No. 1283) issued by the National Development and Reform Commission and other departments, and the provisions of the "Guidance Catalogue for Industrial Structure Adjustment (2024 Edition)," they will comprehensively review, investigate, and shut down existing virtual currency mining projects, strictly prohibit new mining projects, and strictly prohibit mining machine manufacturers from providing mining machine sales and other services within the country.