Regulators in China are weighing a ban on Bitcoin mining

Regulators in China are weighing a ban on Bitcoin mining

5 years ago
Anonymous $syBn1NGQOq

https://techcrunch.com/2019/04/09/china-considers-ban-crypto-mining/

Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered a drag on the country’s economy.

The National Development and Reform Commission (NDRC), the top economic planning agency in the world’s largest market for bitcoin mining, released on Monday a list of sectors it plans to promote, restrict or eliminate. Crypto mining, the process of creating Bitcoin and other digital currencies through the use of computing power, was namechecked alongside a swarm of other sectors the agency wanted to “eliminate” because they “lacked safe production conditions, seriously wasted resources, polluted the environment,” among other issues.

Regulators in China are weighing a ban on Bitcoin mining

Apr 9, 2019, 11:31am UTC
https://techcrunch.com/2019/04/09/china-considers-ban-crypto-mining/ > Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered a drag on the country’s economy. > The National Development and Reform Commission (NDRC), the top economic planning agency in the world’s largest market for bitcoin mining, released on Monday a list of sectors it plans to promote, restrict or eliminate. Crypto mining, the process of creating Bitcoin and other digital currencies through the use of computing power, was namechecked alongside a swarm of other sectors the agency wanted to “eliminate” because they “lacked safe production conditions, seriously wasted resources, polluted the environment,” among other issues.