China’s top economic planning body has unveiled its plan for future industrial structure, categorising industries as ‘encourage’, ‘restrict’ or ‘eliminate’. Top of the list of industries recommended for immediate elimination is bitcoin mining. But that’s really nothing to stress about.
Playing ‘Kiss, Marry, Kill’ With The Crypto Industry
So the National Development and Reform Commission (NDRC) has issued a ‘kill order’ on cryptocurrency mining. Is this just the latest stage in China’s ongoing war against Bitcoin and its offspring? Or something far less sinister?
Firstly, this is just a draft list, which is under public consultation until May 7. Although quite how a public consultation affect’s anything in China is anybody’s guess.
Secondly, this is a list of thousands of industries, with recommendations for each. The 450+ industries tagged for elimination fall foul of a number of possible criteria, including pollution and waste of resources.
Furthermore, the list was first published in 2011, yet…