China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin.
The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment. The list includes more than 400 other industrial activities.
The list is part of the NDRC’s Catalogue for Guiding Industry Restructuring. The catalogue was issued in 2005, pointing out the activities and industries which are allowed to grow in the country or those that ought to be restricted or banned outright.
Reuters reported that the draft list has been open for public perusal since April 8, 2019, although the NDRC has not yet set a date for the elimination of cryptomining activities from the state. The draft list shows a distinct representation of the Chinese state’s views on…