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China Shelves Plan To Crackdown On Cryptocurrency Mining

Months ago, a document was released by NDRC which had a list for the same purpose, but which included crypto mining. Since then, quite a bit has happened in China. Recently, President Xi Jinping called for all sectors in the country, to embrace blockchain technology, asking that China throws its weight behind the technology and embraces all that it offers. After that, things began to turn for the better and even though the president’s statement didn’t mention Bitcoin, blockchain has seen some growth.

China will also be releasing its own Central Bank Digital Currency (CBDC) sometime soon. It is expected that the country will be the trailblazer in this department, as no other country is ready to launch its own digital currency.

Image Credits: Pixabay


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