TechFlow news — The official website of the Zhejiang Provincial People's Government recently released a notice titled "Notice by the Provincial Development and Reform Commission and the Provincial Department of Justice on the Rectification of Virtual Currency 'Mining' Equipment." The notice states that virtual currency 'mining' activities consume large amounts of energy and emit high levels of carbon, contributing little to the national economic activity. Such activities are classified as backward production technologies and equipment explicitly eliminated by the state. 'Mining' equipment generally includes electronic computing devices (such as graphics cards, motherboards), mining software, and pool access records, including but not limited to field-programmable gate array (FPGA) miners, central processing unit (CPU) miners, graphics processing unit (GPU) miners, and application-specific integrated circuit (ASIC) miners.
Furthermore, according to relevant provisions of the "Catalogue for Guiding Industrial Restructuring (2019 Edition)" and the "People's Republic of China Energy Conservation Law," virtual currency 'mining' equipment must be immediately ceased from use and legally confiscated. Enterprises found seriously involved in virtual currency 'mining' activities will be reported to the corresponding level of people's government and, pursuant to the authority stipulated by the State Council, may be ordered to suspend operations for rectification or be shut down.
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