Chenzhou Reports Bitcoin Mining Telephone Line22

On May 14, 2023, the Chenzhou Municipal Commission of Economy and Information Technology of Hunan Province (hereinafter referred to as the "Commission") issued the "Notice on Reporting the Situation of Bitcoin Mining Activities" (hereinafter referred to as the "Notice"). The Notice requires all districts, counties (cities), and functional departments within its jurisdiction to immediately conduct a comprehensive self-inspection and remediation of Bitcoin mining activities and report the relevant situation to the Commission before May 25, 2023.

The Notice defines Bitcoin mining as the process of using computers to solve complex mathematical problems to verify and record Bitcoin transactions on the blockchain network, obtaining corresponding Bitcoin rewards. The Notice points out that Bitcoin mining consumes a lot of electricity and computing power, and if not properly regulated, it may pose potential risks to the safe and stable operation of the power grid and the information network.

In order to strengthen the supervision and management of Bitcoin mining activities, the Notice makes the following requirements:

1. All districts, counties (cities), and functional departments shall immediately conduct a comprehensive self-inspection and remediation of Bitcoin mining activities within their jurisdiction. Enterprises and individuals involved in Bitcoin mining activities shall immediately stop mining activities, and report the relevant situation to the local economic and information technology department before May 25, 2023.

2. Local economic and information technology departments shall conduct on-site inspections of reported Bitcoin mining activities, and take measures such as issuing rectification notices, ordering stoppages, and revoking licenses to deal with illegal mining activities.

3. Strengthen the publicity and education of relevant policies and regulations, and guide enterprises and individuals to participate in legal and compliant production and operation activities.

4. Strengthen inter-departmental coordination, share information in a timely manner, and jointly crack down on illegal Bitcoin mining activities.

The Notice emphasized that all districts, counties (cities), and functional departments shall attach great importance to the work of reporting the situation of Bitcoin mining activities, and take effective measures to ensure the implementation of the requirements of the Notice. Any unit or individual that fails to report or reports false information shall be dealt with seriously in accordance with relevant regulations.

The Chenzhou Municipal Commission of Economy and Information Technology set up a reporting telephone number: 0735-2101234. Any unit or individual, regardless of whether they are reported by themselves, can report illegal Bitcoin mining activities through this telephone number.

2024-12-17

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