China’s state planning agency calls for public opinion on Bitcoin mining ban

China’s State Planning Commission has called for public opinion on a potential ban of Bitcoin mining. The commission is considering banning the use of electricity to mine Bitcoins in order to reduce power consumption and pollution.

The china bans bitcoin mining may 2021 is a recent article from the China’s state planning agency. The article calls for public opinion on Bitcoin mining ban that has been in place since December 2017.

 

The National Development and Reform Commission of China is seeking public input on whether crypto mining should be included to its list of “phased-out” sectors.

In a press statement published on Thursday, the country’s macroeconomic planning body requested public opinions.

Following massive crackdowns by authorities in Beijing on crypto miners, the agency added digital currency mining to its list of obsolete sectors on Sept. 24.

After apparently bouncing back and forth on the matter for the last two years, the commission finally took a firm position.

The agency’s notification sought public input from “relevant units” as well as “people from all walks of life” as part of the public comment period.

The public comment session will run one month, from Thursday, October 21 to Thursday, November 21. Members of the public who want to provide input on the issue will have four options: emails, physical mail, and comments sections on the commission’s website.

In a similar event, the commission announced on its website that the United States has surpassed China as the world’s leading Bitcoin (BTC) mining country.

Is it the end of the road for Chinese crypto miners? After a government crackdown, rigs are on the move.

Indeed, as Cointelegraph recently reported, the United States currently controls almost a third of the worldwide Bitcoin mining hash rate distribution, with Kazakhstan and Russia coming in second and third, respectively.

Crypto miners in North America have been increasing their capacity even before Beijing’s crackdown, with large hardware purchases from big manufacturers like Bitmain and MicroBT.

Chinese miners controlled three-quarters of the worldwide Bitcoin hash rate during the height of China’s supremacy.

Chinese miners who have been displaced by the prohibition have allegedly relocated their equipment to other countries, including Kazakhstan, with places like Texas and Florida hoping to recruit some of these businesses.

China’s state planning agency has called for public opinion on banning cryptocurrency mining. The ban is scheduled to be enacted in 2021. Reference: china bans cryptocurrency 2021.

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