China decides to not eliminate crypto mining industry in a new final plan

The Chinese government has decided not to eliminate the cryptocurrency mining industry from the country in a new final plan.

The National Development and Reform Commission (NDRC) of China, a central government agency in charge of formulating macroeconomic policies, has today published a final "Industrial Structure Adjustment Guidance Catalog" – a list of those industries the agency advises the country to encourage, restrict or eliminate - and the list does not mention crypto mining in the eliminate category anymore.

In April, when the NDRC put out a draft proposal, it recommended local governments to eliminate the crypto mining industry from China. Today’s final catalog comes into effect from Jan. 1, 2020.


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China is home to some of the world’s largest cryptocurrency miner manufacturers as well as mining operations, including Bitmain, Canaan and Ebang. The final catalog appears to be a positive development for the crypto mining industry in general.

China has also been embracing blockchain, the technology that underpins cryptocurrencies. Last month, China's president, Xi Jinping, publicly supported blockchain technology, saying that the nation should take the leading position in its development. China is also almost "ready" to launch its national digital currency after five years of research and development.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.