China plans to ban Betquin mining, a sign of growing government pressure on the encrypted currency sector. China is the world's largest market for computers designed to extract the currency of the Betquin and other coded currencies.
According to the Guardian newspaper, the National Development and Reform Commission (NDRC) said on Monday it was seeking public views on a revised list of industries it wanted to promote, restrict or remove. The list was first published in 2011.
The list added encrypted currency mining, including the currency of the Betquin to more than 450 activities that should be disposed of because they did not comply with the relevant laws and regulations, and were unsafe and wasted resources.
The document said it did not provide a date or a plan for how to eliminate the Betquin mining, which means that these activities should be phased out immediately and before the public until May 7 to comment on the draft.
State-owned Securities reported on Tuesday that the listing project "clearly reflects the position of the country's industrial policy" toward the encoded currency industry. Last week, the price of the Betcairn rose by about 20 percent on its best day since the peak of the 2017 bubble and broke $ 5000 for the first time since mid- Although analysts and traders acknowledged that they were puzzled.
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