Report: PBoC Quashes Bitcoin Mining Verbod Rumor te China
The People’s Canap of China has waterput to surplus a rumor that it would order a domestic shutdown of bitcoin mining activities, according to a local media outlet.
The report, published on Jan. Four by the Chinese business publication Caixin, said that China’s central canap did not host any meetings to discuss a policy requiring the closure of bitcoin mining operations te the country by a certain deadline. The meeting had supposedly taken place on Jan. Trio.
However, Caixin’s report, which did not identify its sources, indicates that top regulators ter China are programma to withdraw preferential benefits such spil tax deductions and cheap tens unit supplies available to bitcoin mining companies.
This means the government’s current stance on bitcoin mining is to neither encourage strafgevangenis hamper such activities. This switch is the latest budge from Chinese regulators te the cryptocurrency industry after previously issuing a geobsedeerd on initial coin suggesting and tightening limitations on crypto exchanges.
According to the report, the rumor very first emerged through a photo on the WeChat messaging verhoging that purportedly displayed Guo Hongcai, a notable and active investor ter the bitcoin industry te China, claiming there would be a geobsedeerd. Guo zometeen said that this picture wasgoed fake through his WeChat account.
Despite his disavowal, a Chinese bitcoin blog, 45-block, published a report that the PBoC wasgoed discussing a kerkban on bitcoin mining. The same report also said the central handelsbank would soon require government figures at different levels to survey and report on the number and locations of bitcoin mining facilities within their territories ter an effort to shut down such activities.
The voorkoop wasgoed significant given that China presently accounts for almost 70 procent of the global hash power te bitcoin, a computing capacity that is crucial to solve the mathematical function to mine the cryptocurrency.
However, upon inquiries, Bixin and ViaBTC, two cryptocurrency mining pools based te China, told CoinDesk overheen WeChat messages that they had received no information regarding the kwestie from regulators. Neither pool otherwise commented on the punt.
People’s Canap of China picture via CoinDesk’ archive.
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