Daily Crunch: China considers Bitcoin mining ban –

Daily Crunch: China considers Bitcoin mining ban –

 · A new article in the Global Times, a daily Chinese newspaper published by the People’s Daily, China’s largest newspaper, is also praising cryptocurrency and pushing for change. “There’s an increasing belief that just saying no to Bitcoin won’t be the eventual solution to the cryptocurrency issue.

Daily Crunch: china considers bitcoin mining ban Apr 09, 2019 Anthony Ha The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories.

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 · Bitcoin slid 2% after China’s state planner added bitcoin mining to a draft list of activities it wants to ban, according to Reuters. The decision comes as the Chinese government continues to crack down on cryptocurrency trading exchanges, cryptomining, and new cryptocurrencies.

Mining of cryptocurrency in this document is called "undesirable industry" and propose to ban. This is reported by the People’s Daily, China. Note that the discussion of the bill will last until May 7. Mining was among the 450 industries and activities that may be subject to a complete ban.

 · China dominates the bitcoin mining industry, which some estimate is worth billions of dollars. The People’s Bank of China did not respond to an emailed request for comment early Wednesday morning.

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