China’s strict stance on cryptocurrencies continued to play out after the recent crackdown guidelines by the Central Bank. Recent reports suggest that China is now planning to add crypto mining to the “Negative List” of industries that would prohibit investors from making investments in the industry. The negative list industries are prohibited or restricted from any investment from both mainland China investors as well as foreign investors.
The negative list released by the statement department saw a decline in the number of companies listed, falling from 123 in 2020 to 117 in 2021. The latest step is only one among many as part of the recent crackdown that is being deemed as the strictest by the Beijing authorities. The People’s Bank of China issued guidelines that deemed all crypto transactions illegal and also instructed authorities to take action against existing medium and small crypto mining operations going on in the country. It also warned foreign crypto exchanges fro
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