What kind of certificate is required for mining (does mining require a business license)

08/06/2023 13:49 • Metaverse & Beyond • 93 views

The Securities Times reported that, on the premise that Bitcoin mining is prohibited in China’s laws and regulations, the state has also clearly stipulated the Cryptocurrency exchange. For example, if an exchange needs to undergo KYC (KnowYourCustomer) certification, apply for a license, submit information proof and registration statement to regulatory authorities, etc So, may everyone be unclear about this issue? We can refer to the 6th edition of the “White Paper on Blockchain Industry Applications” and the “Blockchain Industry Development Plan -2019 Annual Report”

The following documents are edited and organized by Daily Planet Daily:

(1) Taxpayers’ income is divided into company profits and calculated based on the company’s operating profits; In addition, the profit and loss amount and profit weight of the company’s shareholders’ accounts receivable are equivalent to the issuance price or proportion of shares, respectively; And based on the number of shares held, this portion will be funded by the company and paid to the board of directors. Therefore, the company must pay more than 15% of taxes annually to repay debts, investment losses, and interest In order to solve the above problems, it is necessary for the government to strengthen relevant policy research, establish and improve relevant tax systems, and improve market transparency in the management of the digital asset trading market. By formulating specific measures to make enterprises more in line with the local economic development strategy, it is beneficial to improve industry efficiency and reduce illegal activities

Do mining require a business license

According to the 2018 China Blockchain Industry Development White Paper, China has four main measures in the field of digital currency. The first is to establish a domestic legal crypto asset trading platform. The second is to improve regulatory mechanisms and incentive measures. The third is a financial technology development model driven by technological innovation. The fourth time is to accelerate the “New Infrastructure” of the Cyberspace Administration of China, promote the orderly landing and development of blockchain and other emerging industries, and accelerate the process of industry standardization. The last step is to strengthen self-discipline and management of the virtual currency mining industry Regarding relevant matters, it should be noted that although enterprises engaged in virtual currency mining generally do not have business licenses or other business license qualifications (such as company registration location, tax department cancellation, registration failure, etc.), they can consider from some perspectives: firstly, determining whether virtual currency is legal and compliant through market prices; Secondly, if the exchange fails to conduct appropriate cleaning and inspection; Thirdly, due to the risk and legal liability issues related to money laundering, many Bitcoin miners are currently prohibited, so it is necessary to apply for a business license and report the business situation to relevant departments; Fifth, before carrying out activities related to virtual currencies, business can only be carried out after obtaining approval from the Industrial and Commercial Bureau. (Wu Shuo Blockchain)

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What kind of certificate is required for mining (does mining require a business license)

Do mining require a business license

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