RATE Group | No, China Isn’t Banning Bitcoin Mining: Chinese Crypto Insider
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No, China Isn’t Banning Bitcoin Mining: Chinese Crypto Insider

06 Nov No, China Isn’t Banning Bitcoin Mining: Chinese Crypto Insider

Posted at 04:59h in Bitcoin News by

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Earlier this year, reports arose that China — once one of the cryptocurrency capitals of the world — was looking to ban Bitcoin mining.

As reported by NewsBTC at the time, the SCMP reported that the National Development and Reform Commission (NDRC) has revealed a draft list of industrial activities the government is interested in restricting or outright banning, which include cryptocurrency mining. With China’s Sichuan region, full of rivers, purportedly housing a large portion of the hash power backing the Bitcoin network, many were quick to take issue with this move.

According to a new document, however, this isn’t China’s plan.

Related Reading: Chinese Bank Invests in Bitcoin Wallet After President Xi’s Remarks: Report

Bitcoin Mining Still a Safe Activity in China

On Tuesday evening, Chinese cryptocurrency insider Dovey Wan found that the NDRC has eliminated Bitcoin mining from its list of industries to phase out over time. According to a roughly translated version of the…

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