1. Mining is not illegal: First of all, it must be clear that mining is not illegal. The criminal law does not clearly stipulate that mining is illegal! However, due to high energy consumption, it is not recommended!

2. The industry is not one size fits all: The document names Bitcoin, not the entire cryptocurrency industry. The wording in the document refers to severe punishment, not prohibition. The instructions are not one-size-fits-all, but should target mining pools with financial risks, high energy consumption, money laundering and other behaviors.

3. Encourage green and environmentally friendly technologies: The document clearly states that Bitcoin is a waste of energy-intensive resources, but at the same time encourages investment and financing activities that follow green concepts. fil, chia, and bzz provide green and environmentally friendly solutions without any impact. This is why they mention Bitcoin mining by name and why they do not write to crack down on all digital currency mining. So in the future, people who mine Bitcoin in China will either go abroad or switch to hard drive mining like fil!

4. Do not seize the status of digital renminbi: Bitcoin is a peer-to-peer cash payment system. Its function is payment. It is a digital currency. It conflicts with digital currency and must be cracked down on. In the storage category, those with real blockchain technology will develop against the trend.

5. Close mines: Bitcoin mining consumes huge amounts of energy, has no actual output, and deviates from the goal of carbon neutrality. All domestic mines under the guise of high technology may be administratively closed, but for Individuals and studios are not affected.

6. Freeze transactions: Legal currency transactions in digital currencies such as Bitcoin endanger financial security. Banks will comprehensively investigate suspicious accounts and immediately take control measures if they find "C2C" traders with large amounts or transactions. Reported daily, USDT merchants may face freezing at any time in the future, and individual players may also face freezing after the amount is large!

7. Close exchanges: Bitcoin trading platforms that provide contract and futures trading services to domestic users are suspected of illegal futures operations and will be severely punished in conjunction with the public security departments and Interpol. For example, exchange contracts such as Matcha and Huobi may stop being provided to domestic users

8. Strictly investigate money laundering channels: Strictly investigate and deal with IDC services that provide so-called "return lines" for overseas virtual currency trading platforms. business.

Finally about mining: low-key mining with own funds to buy mining machines, no fundraising, no speculation, and no financial products; no impact on cloud computing centers, big data centers, and compliant mines If a site has complete procedures for electricity, energy, nuclear filing, environmental protection and fire protection, as long as it operates legally and does not evade taxes, the local government will decide whether to accept or allow it based on energy consumption indicators, land indicators, etc.; thermal power mines are suspended. The main issues are energy consumption and carbon emissions.