At the moment, all pro-growth sentiment on the bitcoin market and cryptocurrencies seem to originate from China. One industry informant has just revealed that unlike previous reports, BTC mining in China will not be banned. The fact is that bitcoin mining has disappeared from the finalized version of the list of industrial activities that China’s central planner intends to eliminate.

End of the ban on bitcoin mining in China

A few hours ago a statement appeared on Twitter @DoveyWan, which contained a statement that the mining BTC and other cryptocurrencies disappeared from the list of industries that Beijing intended to block.

6 months ago CT was screaming abt “China banning bitcoin mining” when a fuzzy drafted “guideline” was published by China state planning dept

The official version is out: cryptocurrency mining is removed from the “eliminating category”

The message is so clear here

Earlier this year, the South China Morning Post announced that China’s National Development and Reform Commission (NDRC) had disclosed a draft list of industrial activities it intended to restrict or prohibit. The extraction of bitcoins and cryptocurrencies was initially included in this list.

Apparently, the Commission considered that BTC mining did not fall into any of these categories and should not be prohibited in China. It also means that there will be no continuous efforts to hinder the industry by restricting access to electricity.

The provincial authorities may set their own rules for this practice. In general, these messages definitely give bitcoin and cryptocurrencies a pro-growing sentiment.

At today’s press conference, the NDRC said that 2,500 suggestions were added to the draft project, but none were related to the extraction of bitcoins. The translation offers the following justification for inclusion or elimination;

During the review period, more than 2,500 reviews and suggestions were received from various quarters. After careful study and study, one by one, most of them were adopted and absorbed. The main reasons for rejection are those that do not comply with laws and regulations or relevant policies, do not correspond to the general interests of industrial development, and are not technologically advanced.

What is your opinion on the latest news from China? Will the news that BTC mining has disappeared from the list of actions to be blocked in China really affect the cryptocurrencies rate? We would like to invite you to a discussion.

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