Beijing officials have announced stringent regulations to scrutinize and mitigate cryptocurrency mining activities in 2024, adhering to China's broader crackdown on digital currencies. The city aims to decisively eliminate virtual currency mining, aligning with national laws. This effort will involve the Municipal Development and Reform Commission, the Municipal Network Information Office, and the Municipal Economic and Information Technology Bureau. Despite the ban on cryptocurrencies and mining, interest among Chinese citizens in crypto assets persists, navigating through alternative purchasing methods.
