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China Not Eliminating Bitcoin Mining Anymore

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It has been more than 6 months since China’s National Development and Reform Commission planned to eliminate bitcoin mining from the country according to the draft plan released earlier this year. But seems that plans have changed and Bitcoin mining is not being eliminated anymore in China.

On November 6th a document was released by the commission, removing “virtual currency mining” as the industry that needs to be eliminated.


This change of plans comes after months of public consultation according to the press conference held by the National Development and Reform Commission where officials explained that the commission received more than 2500 proposals on several issues, however, they did not make any specific comments about bitcoin proposals they have received.

China which is accountable for nearly half of the world’s hashing power is seeing a more friendly approach toward crypto. The narrative change in the last week with blockchain endorsement and now nearly legalizing mining confirms that.

This is good news for miners that can have some more peace of mind now that the government has switched plans.

An interesting thing is that China has been accumulating gold without disclosing it for 6 years and then the central bank announced a 57% increase in their gold holdings in 2015 as Bloomberg reports.

Now a question that rises itself is, how long will take China to disclose their Bitcoin holdings?

Why do you think China government became “friendly” with crypto? Feel free to post your opinion in the comments below.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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