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China's top economic planner proposes ending all crypto mining in the country



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China’s top economic planner has proposed an end to all cryptocurrency mining operations in the country. The National Development and Reform Commission added crypto mining to its 2021 negative list on Friday (Oct 9), citing concerns over regulation and energy waste among reasons for reining in the sector. The move comes just weeks after China banned all cryptocurrency transactions and months after it stopped financial institutions from providing any crypto-related services. Chinese official media have reported around 90 percent of crypto related businesses have closed their doors in the country since mid September.

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Category
Cryptocurrency Mining
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