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China calls crypto mining ‘extremely harmful,’ but not for this reason
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Why does China hate crypto mining? It’s a question many have asked, but the answer isn’t what one would expect. Turns out, as some analysts suspected, it might not be about the coin at all.
On 16 November, a notice released by China’s National Development and Reform Commission made it clear why the country was so vehemently against crypto mining – and the lengths it would go to get its own way.
First and foremost, a translation of the document called virtual currency mining “extremely harmful.” It
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