China to ban cryptocurrency mining considering it a waste of energy
R Sinduja
News Editor
Image Credit: Shortpedia
China is considering banning bitcoin mining in the country because it wastes a lot of energy. The regulators think it's an undesirable economic activity. The NDRC published a research paper wherein it proposes banning cryptocurrency mining & is available online for the Chinese to comment. It is indeed incredibly wasteful as it requires specialized high-end rigs that sap a massive amount of electricity.
