Butuo County, Sichuan Province, issued a notice prohibiting virtual currency "mining" activities.

The Butuo County government in Liangshan Yi Autonomous Prefecture, Sichuan Province, recently issued a "Notice on Prohibiting Virtual Currency 'Mining' Activities," explicitly stating that virtual currency "mining" activities belong to outdated production processes and equipment that have been explicitly eliminated by the state. Related business activities are identified as illegal financial activities and will face risks such as loan cutoffs, power outages, internet disconnections, and credit penalties. Those involved will be held accountable under Party discipline, administrative discipline, and the law. The notice emphasizes that civil legal acts involving investment in virtual currencies and their related derivatives are invalid, and any losses incurred must be borne by the investor. To maintain social stability and regulate market order, Butuo County has clearly proposed three measures: First, prohibiting all forms of virtual currency "mining" activities, including but not limited to Bitcoin and Ethereum; second, requiring township governments and relevant industry authorities such as telecommunications and electricity departments to strengthen investigation and supervision according to the principles of local and industry management, and severely crack down on illegal "mining" activities; and third, encouraging the public to report illegal "mining" activities. (Butuo Media)