Saturday, February 4, 2023

China’s State Commission Seeks Public Opinion On Crypto Mining

The National Development and Reform Commission of China is taking a public opinion on including crypto mining in the ‘phased-out’ industries list.

On October 21, the state planning agency of China released a report in which it has asked the public to share their opinions on the inclusion of crypto mining in its phased-out list.

Following Beijing’s crackdown on crypto mining, the agency decided to add crypto mining to its list of outdated industries.

For the past two years, the commission had been moving back and forth on the issue, however, its latest stance over the matter provides the state agency’s definitive viewpoint. 

The notice released by the agency requested public feedback from relevant units and people from all walks of life.

As per the agency, the public opinion on the matter will be conducted from October 21 to November 21. During this process, the members interested in the public feedback will be offered four different avenues to make their opinions. The members will find emails, physical mail and comment sections on the commission’s website to share their opinion.

The commission also released a post on its website informing that after the Chinese government’s crackdown on crypto miners, the US has been dominating the Bitcoin mining industry around the world.

A few months ago, it was reported that the US now accounts for over a third of the global Bitcoin mining hash rate distribution, with Kazakhstan and Russia in second and third place, respectively.

Before China’s crackdown on crypto miners, North America started expanding its capacity with massive hardware orders from manufacturers like Bitmain and MicroBT.

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