Seems like they just call it illegal business, and your various business permits may get revoked. Also it seems like they detect electricity usage patterns for mining and don’t allow you to use electricity in the grid for mining. But nothing I can find in 10 minutes cites any particular law or explicit consequences for a company trying to mine just for profit of their own. (query 1, query 2)
ChatGPT reads it as a bit harsher and says: Yes — the materials say a company caught mining at scale can be shut down, cut off from power and financing, fined, have equipment confiscated, and be closed; prison enters the picture when the mining also involves crimes like theft, fraud, hacking, illegal fundraising, or pyramid-selling.
I would trust it here, because I think I’m less confident only because I don’t understand laws that well and I skimmed.
If a company mines crypto on scale and gets caught, what would be the punishment, if any?
Seems like they just call it illegal business, and your various business permits may get revoked. Also it seems like they detect electricity usage patterns for mining and don’t allow you to use electricity in the grid for mining. But nothing I can find in 10 minutes cites any particular law or explicit consequences for a company trying to mine just for profit of their own. (query 1, query 2)
(official generic stuff) https://www.ndrc.gov.cn/xxgk/zcfb/tz/202109/t20210924_1297474.html
(law firm article) https://www.allbrightlaw.com/CN/10475/dcfe743a4909a3bf.aspx
(law firm article) https://www.junzejun.com/Publications/171418e8f774e7-b.html
ChatGPT reads it as a bit harsher and says: Yes — the materials say a company caught mining at scale can be shut down, cut off from power and financing, fined, have equipment confiscated, and be closed; prison enters the picture when the mining also involves crimes like theft, fraud, hacking, illegal fundraising, or pyramid-selling.
I would trust it here, because I think I’m less confident only because I don’t understand laws that well and I skimmed.