The cryptocurrency industry was dealt a blow on Tuesday when a leading state planning agency in China recommended the government ban mining of bitcoin and other digital currencies.

The National Development and Reform Commission, or NDRC, said it had added crypto mining to its list of industrial activities it plans to curtail because they do not adhere to current laws or were a drain on the environment. A translated version of the document lists it as: “virtual currency ‘mining’ activities (production process of virtual currency such as bitcoin).”

According to Reuters, state-owned newspaper Securities Times said the draft list “distinctly reflects…

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