The economic planning body has concluded that Bitcoin mining, as well as over 450 related activities, should be phased out.
While the news of Bitcoin crackdowns in the most populated country on earth is usually a catalyst for fear, uncertainty and doubt across crypto markets, many analysts believe a full-scale Bitcoin mining ban in China could actually be good news.
According to Reuters, the NDRC didn't give a date or any details on how, exactly, Bitcoin mining should be eliminated - but that would mean that Bitcoin mining is to cease immediately. The public still has until May 7 to comment on the ban.
"The NDRC's move is in line overall with China's desire to control different layers of the rapidly growing crypto industry, and does not yet signal a major shift in policy", said Jehan Chu, managing partner at blockchain investment firm Kenetic. Bitcoin now falls in that last category. China has always been the world's top destination for Bitcoin mining farms due to favorable energy prices from coal -rich regions and easily accessible hydro power. Chinese mining farms have had too much control over the process, which has led to centralization issues.
The cryptocurrency sector has been under heavy scrutiny in China since 2017, when regulators started to ban initial coin offerings and shut local cryptocurrency trading exchanges.
Almost half of bitcoin mining pools - groups of miners that team up for economies of scale - are located in the Asia-Pacific, a Cambridge University study said in December.
China is now the dominant force in crypto mining hardware production with companies such as Bitmain controlling a large percentage of the industry.
Two of the largest Bitcoin mining equipment makers, Bitmain and Canaan, were initially intending to go public and raise billions of dollars in Hong Kong, but the companies have unexpectedly let their initial public offerings lapse since making their announcements.
The sellout crowd that followed Cuban's orders by showing up early chanted "M-V-P" and "One more year" throughout the game. Nowitzki then went out and showed flashes of his old self and showed why he's one of the greatest to ever play the game.
Microflora can have a range of impacts on human health, so it pays to know exactly what you're up against - especially in space. The authors suggest that these temporal differences may come down to which astronauts are aboard the ISS at any given time.
Willson Contreras' two-run homer in the sixth against Davies was unearned, and that was all Chicago could muster at the plate. The team has gone 1-7 since, sit 5.5 games out of first place, and have looked like a mediocre Triple-A team at times.
The Belarusian became frustrated over not being able to execute shots like she did in the last 4 rounds with other opponents. The season so far has been full of glimpses where Muguruza has played some brilliant tennis, reminiscent of her 2017 form.
He was joined by health officials who decried what they called "misinformation" spread by opponents of vaccination . New York Mayor Bill de Blasio has issued a public health emergency in Brooklyn due to a measles outbreak .
Measles is a highly-contagious disease which is spread through the air and by person-to-person contact. Herminia Palacio echoed de Blasio's comments citing the safety and effectiveness of the MMR vaccine.
That was not surprising - Boeing suspended deliveries in mid-March after regulators around the world ordered the plane grounded. Many analysts believe the deliveries will only be delayed, not lost forever, unless airlines cancel orders for the plane.
PGA Tour officials have since cancelled the final round of the Sanya Championship, the tournament becoming a 54-hole event. After the discovery of Irawan's body, Series-China made a decision to suspend the final round of the Sanya Championship.
The senior senator told the Washington Post he is "very, very concerned" about reports of possible further DHS dismissals. Kirstjen Nielsen resigned as Secretary of Homeland Security, the department that oversees immigration , on Sunday.
Backed Aurora Experiment Adds Light Show
On April 5, two AZURE rockets released visible gas tracers over the Norwegian Sea at 71 through 150 miles (114-241 km) altitude. Auroras are spectacular light shows, but a recent display in the skies over northern Norway was out of this world - sort of.
India's World Cup squad selection on April 15 in Mumbai
India will play its first match of the World Cup against South Africa at the Rose Bowl in Southampton on June 5. For nearly one and a half years, We have worked on this observing all the players, tested good combinations.
Kelly gets game-winner as Diamondbacks edge Red Sox
Boston has yielded double-digit runs three times , and its starting rotation has given up 43 earned runs in 40 1/3 innings. In his first start of the season against Seattle, he was tagged for four runs and didn't make it out of the third inning.
Tiger Roll 1st back-to-back Grand National champ in 45 years
For an ex-Flat horse, he's not a typical four-mile chaser, but he's got some appetite for racing with a great eye for jumping. For my whole yard and everyone involved it's unbelievable - you dream about this. "She knew more than I did - she was grand".
Facebook morally bankrupt, New Zealand privacy watchdog says
The Australian Parliament on Thursday passed some of the most restrictive laws about online communication in the democratic world. The platform has also been at the center of claims that Russian Federation meddled in the 2016 USA presidential election.
Gas prices continue to rise nationwide
GasBuddy, a web site that tracks gas prices nationally, said the increase has to do with ongoing refinery issues limiting supply. The average cost of a gallon of gasoline was $3.884 in Los Angeles on Monday , surpassing the price at the pump in even Hawaii.
Jordan Conroy blazes trail for Ireland Sevens glory
The All Blacks crashed out the cup race at the Hong Kong Sevens after a shock 14-12 loss to France in Sunday's quarter-final. The USA now lead the overall World Rugby Sevens Series standings with 131 points, ahead of Fiji by sevens points.
Activists Remove 40 Neglected Animals From Zoo in Gaza
Four Paws said 47 animals were successfully removed from the zoo in the Palestinian city of Rafah over the weekend. In 2004, Rafah Zoo, which is located in the southernmost part of the Gaza Strip, was nearly completely demolished.