China Is Confusing About Bitcoin Mining

China is confusing about Bitcoin mining. For the first time, China has sought public opinion on Bitcoin mining.

There has been a critical development regarding the “Bans in China” that have devastated the cryptocurrency markets and resulted in the Bitcoin price dropping more than 50% from around $55,000. Zhu Su, partner of the investment company Three Arrows Capital, informed that the National Development and Reform Commission requested to collect opinions from the public between October 21 and November 21, and shared the relevant page on the official website of the institution. Statement made by the organization said, "Organizations related to the subject and people from all walks of life can give us their opinions on our website or via e-mail." However, Chinese journalist Colin Wu, who regularly reports from the region and owns the Wu Blockchain account, explained that this is not a ban but a step to legitimize the ban. Wu said: "This is not a move to lift a ban. On the contrary, it is a move to completely put the cryptocurrency mining industry on the 'industries that should not be in China'… Of course, many miners will also comment on the subject and state that they do not want the ban. However, the Chinese government's stance against Bitcoin mining Given that these comments are meaningless…”