China is considered a major opponent of cryptocurrencies. According to some analysts, the most populous country in the world is responsible for the dramatic drop in the bitcoin exchange rate last November. Shortly before, the Chinese National Development and Reform Commission announced that it would “continue to fight against cryptocurrency mining.” The Commission is particularly concerned about the fact that cryptocurrency mining leads to “high electricity consumption and emissions”. Representatives of the commission also stressed that the mining of virtual coins has “no advantages for industrial development or scientific progress”. It is true that this would not be the first…