China’s Bitcoin Mining Ban is a Short-Term Blow, But Easily Recoverable

According to Reuters, the National Development and Reform Commission (NDRC) of China has drafted a proposal that may ban Bitcoin mining.
The NDRC is responsible for economic planning, which includes the administration of a list of industries for restriction or elimination. Consequently, details of the latest list propose the removal of cryptocurrency mining. The reasons cited include failure to obey regulations, mining is unsafe, and the environmental impact it has.
China’s Anti-Crypto Sta