China Crypto Roundup (July. 26-Aug. 1)：PBoC Continues High Pressure on Virtual Currency
1. AntPool will be spun off from Bitmain to independently carry out mining pool and other businesses overseas
Bitmain held a semi-annual shareholder meeting on July 26. The company’s management team informed shareholders of the progress of the divestiture of Bitmain mining pool brand “Antpool”.
Bitmain insiders revealed that after obtaining shareholder approval in the first quarter, all legal matters were completed on May 1, and some business is still being sorted out, and related actions will be completed as soon as possible.
In addition, “Antpool” will independently carry out mining pools and other businesses overseas after obtaining the support of new shareholders. At present, Antpool ranks first in Bitcoin’s computing power.
2. The People’s Bank of China (PBoC): the second half of the year to maintain a high pressure on the virtual currency trading hype
On July 30, PBoC held a work conference for the second half of 2021. In the first half of the year, PBoC promoted the standardized development of platform corporate financial services and severely cracked down on illegal activities of virtual currency.
The meeting requested that in the second half of 2021, urge and guide platform companies to make comprehensive rectifications in accordance with regulatory requirements, and maintain a high pressure on virtual currency trading hype.
The meeting requested that in the second half of 2021, continue to deepen financial reforms in key areas. Continue to prudently promote the internationalization of digital RMB, deepen foreign currency cooperation, and develop the offshore RMB market. Carry out high-level open-up pilots for cross-border trade and investment. The next half year will expand the pilot program of trade balance facilitation and support more regions, especially the central and western regions, to participate in the pilot program. Promote the reform of foreign debt registration and management, and improve the management policies for domestic bond issuance by overseas institutions. Promote steadily the digital RMB research and development pilot.
3. Shenzhen issued the first blockchain “Certificate of Export Goods Agent”, blockchain technology was first applied to export tax rebates
Shenzhen issued the country’s first “export Agent certificate” based on blockchain technology on July 24, which is the first application of blockchain technology in the field of export tax refund, marking the successful completion of the pilot task of the state Administration of Taxation certification business on the blockchain.