Hebei Provincial Cyberspace Administration Launched A Special Rectification Campaign on Virtual Currency Mining and Trading Activities

[ChainDD report] September 16 (ChainDD) The Cyberspace Administration of Hebei Province, together with the provincial Education Department, the provincial Public Security Department, the provincial Financial Supervision and Administration Bureau and the Shijiazhuang Central Branch of the People's Bank of China (PBOC), has launched a special crackdown on virtual currency mining and trading.

The rectification action requires that, before September 30, the relevant institutions in the province should seriously check and inspect the information system in use, further improve system security measures and internal management system, and strictly prevent the use of computing power to engage in illegal mining of virtual currency.

In addition, from October, leaders and persons in charge will be held accountable if illegal mining activities are found using the computing power of information systems. Internet access shall be suspended until the rectification of the information system involved is completed. Those who engage in illegal transactions shall be punished strictly according to law.

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