The Chinese government has changed its mind about digital currency. The National Commission decided not to exclude the cryptocurrency industry from the country and leave it in a new final plan.
The fate of cryptocurrency in China
China's National Development and Reform Commission (NDRC), the central government agency responsible for economic policymaking, today released the final decision: “A directory of guidelines for adjusting the industrial structure.”
The document contains a list of industries that the NDRC recommends encouraging, restricting, or eliminating in the country. The list no longer mentions crypto-mining in the elimination category.
The catalog, issued by the NDRC Commission, takes effect on January 1, 2020.
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- In September 2019, the Chinese government cleared “illegal miners” in the autonomous region of the PRC of Mongolia. Legal cryptocurrency miners have also been threatened.