Any news coming out of China tends to trigger some cryptocurrency market momentum. In recent years, most of the news has been negative, which won’t surprise too many people. In the most recent development, it would appear China’s state planner wants to put an official end to Bitcoin mining in the country. It is one of several dozen activities to be “blacklisted’ in the country.
China Goes After Bitcoin Again
Ever since Bitcoin trading in China took a big hit due to new regulatory measures, the country has continued its effort to thwart any cryptocurrency activity. While those efforts have seen varying degrees of success, any hint at banning Bitcoin-related activity usually drives the world’s leading cryptocurrency’s price down as a result. This most recent development may trigger a very similar effect, although it remains to be seen how things will play out in this regard.
China’s state planner has submitted a new draft proposal which will legally put an end to Bitcoin mining. Not entirely surprising, as China…