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Chinese Regulator Proposes Gradual Phasing Out Of Domestic Cryptocurrency Mining

News Snapshot:

The Chinese government is seeking to further tighten the noose around its domestic cryptocurrency sector. The regulator has proposed adding crypto mining to the Negative List for Market access, an action that will outlaw all investments in the crypto sector. The developments come amidst a severe crackdown on cryptocurrencies, although this is not the first time that China has banned crypto-related activities. Outlawing Crypto Investments On Friday, China’s National Development and Reform Commission (NDRC) announced that it was seeking to add crypto activities such as mining into the 2021 draft for Negative List for Market Access. If the draft for…

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