China Bars Its Citizens From Investing In Crypto Mining, Again

Chinese regulators doubled down on their crypto ban, now barring all the country's citizens from investing in the cryptocurrency mining industry.

What Happened: According to a Saturday Reuters report, Chinese regulators added cryptocurrency mining to the "negative list," a list of industries in which investment is restricted or prohibited.

The news comes after the People’s Bank of China reiterated its anti-crypto stance on Friday with a “fresh notice” declaring all cryptocurrency-related activities illegal, which resulted in CIA whistleblower Edward Snowden suggesting that Bitcoin BTC/USD just became stronger.

See Also: IS CRYPTO BANNED IN CHINA?

Furthermore, the state planner said that it intended to halt the investment of "non-public" capital into a number of publishing activities such as live broadcasts, news-gathering, editing and broadcasting entities and news operation.

Private capital cannot be involved in the news production by overseas entities or summits and journalism award selection activities. The draft list was cut to 117 elements from 123 last year.

See Also: IS IT TOO LATE TO BUY BITCOIN? 

Photo: Courtesy of Unsplash