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Bitcoin falls as China reintroduces a crackdown on ‘very destructive’ cryptocurrency mining.

November 18, 2021
Source: marketcapitalize.com marketcapitalize.com
News Snapshot:
Chinese officials have stepped up their campaign against cryptocurrency mining, which they view as a “extremely harmful” practise that might jeopardise China’s efforts to reduce carbon emissions. During a news briefing in Beijing Tuesday, Meng Wei, a spokesperson for China’s National Development and Reform Commission, blasted bitcoin mining. According to her, this action consumes a lot of energy and produces a lot of carbon emissions. National Development and Reform Commission (NDRC), will undertake a “full-scale” crackdown on cryptocurrency mining According to Meng, the country’s main economic planner. Additionally, she described the bitcoin industry as “blind and disorderly” and asserted that...
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Tags: bank | Beijing | bitcoin | blockchain | capital | China | Chinese | climate change | commission | communications | community | corporate social responsibility | crackdown | crypto | cryptocurrency | currency | development | digital | Economy | energy | finance | financial | fintech | Renminbi | Yuan

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