China Doubles Down on Crypto Mining Ban

Read the original article by: CoinDesk Staff Here

The NRDC (National Development and Reform Commission) has re-added crypto to the list of industries it plans to eliminate. The commission has said “crypto mining is an industry that uses outdated production processes and equipment”, this comes from China Catalog for Guiding Industry Restructuring.

This comes nearly two years after the firm removed crypto mining from this same list. Mining was seen on the original draft of the April 2019 list but was nowhere to be found in November when the final draft had been published.

This report follows the recent hostility by the China state towards all things crypto, with the people banks of China, banning mining as well as all things trading, only two weeks ago.