China Planning Agency …

Chinese planning agency recommends banning bitcoin mining

The government agency responsible for planning China’s macroeconomics intends to ban the mining of cryptocurrencies, including bitcoin. Reuters writes about this with reference to the draft list of recommended industrial activities.

The National Development and Reform Commission on Monday announced the start of collecting public comments on the updated version of the list, which includes industries that, according to the Chinese leadership, require support, restrict or eliminate.

In its new version, cryptocurrency mining has been added to more than 450 unwanted activities. According to the department, the industries included in the list violate the requirements of current laws, are unsafe, waste resources or pollute the environment, and mining, in particular, slows down the further development of the country..

China Planning Agency ...

The commission has not announced a date or plan to eradicate mining from Chinese soil. This means that any activity related to the mining of cryptocurrencies must be stopped immediately, she explained. Until May 7, the department will accept public comments on the submitted list.

The Industrial Restructuring Guidebook was created in 2005 with the aim of informing local authorities about sectors that should receive their support or cease to exist. The document was revised in 2011, 2013 and 2016. An updated version is released this year..

China Planning Agency ...

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