Inner Mongolia Autonomous Region issued a notice to clean up and rectify virtual currency mining enterprises

On November 11, the Inner Mongolia Autonomous Region Industrial and Information Technology Department issued a notice on the joint inspection of the virtual currency “mining” enterprises. The inspection time lasted from November 11th, 2019 to November 25th. Based on the analysis of the materials reported by the various cities and the relevant data held by the autonomous regions, the focus was on clearing the relationship with the real economy, evading supervision and energy consumption. The "Big Data Industry" conducts this inspection for the purpose of packaging virtual currency "mining" companies that enjoy preferential policies on local electricity prices, land and taxes. In September of this year, Chain Wen reported that according to a notice issued by five relevant departments of Inner Mongolia Autonomous Region, "A notice on the inspection and clearing of virtual currency "mining" enterprises, the Inner Mongolia Autonomous Region will focus on cloud computing, Big data, blockchain, IDC and other related companies are inspected. According to the document, in order to implement the relevant instructions of the National Financial Work Conference and the leaders of the autonomous region, the virtual currency “mining” industry belongs to the pseudo-financial innovation unrelated to the real economy, and should not be supported. The Autonomous Region Development and Reform Commission, the Public Security Department, and the Office of the Ministry of Industry The Financial Office and the Big Data Bureau decided to carry out related work on the cleanup and rectification of such enterprises in the whole district.