China Starts New Wave on the Cryptocurrency Mining Ban

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According to the preliminary list of prohibited and supported industries, mining cryptocurrency will be considered illegal in the country soon. This list was first published in 2011.

The National Development and Reform Commission of China (NDRC) classified this area of activity as prohibited because it does not comply with applicable laws and regulations, is unsafe and leads to waste of resources or environmental pollution.

Also, it should be noted that China is the world’s largest manufacturer of mining equipment for Bitcoin and other digital currencies, despite the fact that PRC regulators have banned the primary tokens (ICO) and closed the local cryptocurrency exchanges.