Chinese government pledges to “eliminate” crypto mining · TechNode

Chinese government pledges to “eliminate” crypto mining · TechNode

China lists crypto mining as an industry to retire and eliminate. The Chinese government plans to use blockchain technology in public services. A Jay Chou-supported NFT has topped the transaction volume list on OpenSea. 

Crypto mining to be “retired”

  • China’s National Development and Reform Commission (NDRC) has listed crypto mining as an industry to retire in an amended industrial catalog (Catalogue for Guiding Industry Restructuring 2019 version). The catalog said sectors that ought to be retired tend to be energy-intensive, polluting, and use outdated technology and equipment. Since March, officials across China have launched a widespread campaign to shut down mining operations. Inner Mongolia was the first region to crack down on miners, while Xinjiang and Qinghai, plus Sichuan, Yunnan, Jiangsu, Zhejiang, Fujian, and Jiangxi provinces soon followed. (NDRC, in Chinese
  • Crypto mining conflicts with China’s carbon neutrality goal according to a monthly work report issued by…

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