The Chinese National Commission for Development and Reform (NDRC), which is in charge of managing macroeconomic policies, has revealed that it is considering eliminating cryptocenter mining in the country. The report was published on 9 April by Reuters.

NDRC has included cryptocurrency mining in its proposal for a revised list of industrial activities that it wants to limit or completely ban. The list, which has more than 450 points, identifies activities that either violate laws or regulations, pose a security risk, or are non-organic. It is in the third category that mining should fall.

This proposal should help China to assess which sectors need to be supported in the country and which need to be reduced or abolished.

In particular, it is shocking to say that the NDRC did not provide for a proposed deadline when it would be necessary to limit the extraction of cryptocurrency in the country, but instead stated that its limitation had to take place with immediate effect. The public should now comment on and comment on this proposal by 7 May.

Reuters argues that this report clearly reflects China's view on cryptocurrency . The Chinese People's Bank (PBoC) has already banned the ICO in September 2017 and has subsequently taken a number of steps to limit the country's mining giants.

However, in view of cheap energy and hardware, several studies claim that cryptocurrency mining in China accounts for more than two-thirds of global production and has not yet been completely banned. Mining giants include Bitmain, which was established in Beijing and operates in China and abroad. It is this company that announced at the end of March that it wants to launch 200,000 new Bitcoin hardware devices in its parent country, as it wants to use current low-cost hydropower after flooding.

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