Earlier this year, reports arose that China \u2014 once one of the cryptocurrency capitals of the world \u2014 was looking to ban Bitcoin mining.<\/p>\n
As reported by NewsBTC<\/a> at the time, the SCMP reported that the National Development and Reform Commission (NDRC) has revealed a draft list of industrial activities the government is interested in restricting or outright banning, which include cryptocurrency mining.<\/a> With China’s Sichuan region, full of rivers, purportedly housing a large portion of the hash power backing the Bitcoin network, many were quick to take issue with this move.<\/p>\n According to a new document, however, this isn’t China’s plan.<\/p>\n On Tuesday evening, Chinese cryptocurrency insider Dovey Wan found<\/a> that the NDRC has eliminated Bitcoin mining from its list of industries to phase out over time. According to a roughly translated version of the article in question, the “consultation paper” that indicated that the NDRC cryptocurrency mining operations due to environmental damage has been “deleted,” implying that there will no longer be a concerted effort to stem the flow of resources to China’s Bitcoin miners over time.<\/p>\n BREAKING <\/p>\n 6 months ago CT was screaming abt \u201cChina banning bitcoin mining\u201d when a fuzzy drafted \u201cguideline\u201d was published by China state planning dept <\/p>\n The official version is out: cryptocurrency mining is removed from the \u201celiminating category\u201d<\/p>\n The message is so clear here\ud83d\udc40 https:\/\/t.co\/bA9To59cKJ<\/a> pic.twitter.com\/ynRiTdkKd7<\/a><\/p>\n — Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) November 6, 2019<\/a><\/p><\/blockquote>\nRelated Reading: Chinese Bank Invests in Bitcoin Wallet After President Xi\u2019s Remarks: Report<\/a><\/h6>\n
Bitcoin Mining Still a Safe Activity in China<\/strong><\/h2>\n
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