"Ban all cryptocurrency mining!" says the Chinese Government agency with the authority to actually do it...

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 The 'National Development Reform Commission' is the most powerful authority in China when it comes to deciding which industries are allowed to exist within the country.

Every year they release a list of businesses they want to abolish - and Bitcoin mining is on their latest one, citing the usual 'wasteful energy consumption' and 'speculative bubbles' criticisms as the reason.

It's safe to say the rest of the global cryptocurrency community wouldn't miss China one bit.

Except for taking Bitcoin earned through mining, China is already completely disconnected from the cryptocurrency space, as citizens are banned from regular cryptocurrency trading, and have been since 2017.

Video Courtesy of Bloomberg Asia


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