It Is Difficult to Completely Prohibit BTC Mining in China, A Chinese Official Said

[ChainDD report] June 8 (ChainDD) According to China News Weekly, Chen Weigang, the supervisor of the Board of Supervisors of Key Financial Institutions of the China Banking and Insurance Regulatory Commission, said in an interview that the BTC mining in China was still difficult to be completely banned, and the regulatory action carried by Chinese regulatory agencies this time mainly focused on companies that mine cryptocurrency.

In his opinion, it can be controlled through the financial audit of the income and expenditure side. For example, the BTC mined by enterprises will eventually be reflected in revenues and profit appreciations. If a part of the profit belongs to BTC mining, enterprises cannot be allowed to put the related profit into their account. In this way, the enterprise BTC mining behaviour can be blocked.

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