Sichuan Butuo County Issues Notice Prohibiting Virtual Currency "Mining" Activities

Odaily Planet Daily reports that Liangshan Yi Autonomous Prefecture, Butuo County, Sichuan Province, recently issued the “Notice on Prohibiting Virtual Currency ‘Mining’ Activities,” which clearly states that virtual currency “mining” activities belong to outdated production processes and equipment that are explicitly phased out by the state. Related business activities are deemed illegal financial activities and will face risks such as loan suspension, power outages, internet disconnection, and credit sanctions, with relevant personnel being held accountable according to party discipline, political discipline, and law.

The notice emphasizes that civil legal acts involving virtual currency and its related derivatives are invalid, and any resulting losses must be borne by the individuals involved. To maintain social stability and regulate market order, Butuo County has explicitly proposed three measures:

1. Prohibit all forms of virtual currency “mining” activities, including but not limited to Bitcoin, Ethereum, and others;

2. Require township governments and industry regulatory departments such as telecommunications and electricity to strengthen investigation and supervision based on territorial and industry management principles, and severely crack down on illegal “mining” activities;

3. Encourage the public to report illegal “mining” activities. (Butuo Media)