China will not limit cryptocurrency mining
The National Development and Reform Commission of China published a resolution with the areas that should be delimited or eliminated, where this activity was not included
On Wednesday, the National Development and Reform Commission of China published a new “Updated guide for industrial structuring”, which specifies the areas that are planned to be delimited or deleted.
A good aspect is that such document did not include cryptocurrency mining which represents a positive newa for users of digital assets.
In the past, the commission of representatives had asserted that cryptocurrency was “an undesirable industry” and should therefore be banned.
“The National Development and Reform Commission of China has eliminated cryptocurrency mining from the list of industries they want to eliminate“ said Samson Mow CSO of Blockstream.
The news marks a rare blessing for bitcoin-related activities in China, a country where cryptocurrencies outside the control of the central bank are still virtually banned.
Cryptocurrency mining in China has been very profitable because, among other factors, the cost of electricity is relatively cheap.
K. Tovar
Source: Cointelegraph
