China’s National Development and Reform Commission (NDRC) has reaffirmed that virtual currency-related businesses and transactions are illegal financial activities, and that virtual currency “mining” behaviour is extremely harmful, Securities Times reported.
NDRC spokeswoman Meng Wei said state-owned units involved in crypto “mining” using residential electricity price structures would be punished.
According to the state planner, coal production was increasing rapidly, coal stocks in power plants continue to increase, and coal futures spot prices have fallen sharply, she added.
Read the full report: Securities Times
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