China seeking public opinion on the crypto ban

The current situation shows that China may unban crypto mining and trading activities for their citizens. 

China’s National Development and Reform Commission is now asking for public opinion on the inclusion of crypto mining in its list of “negative industries list”.  

Chinese authorities released their public opinion & suggestion poll on 21 October. After that huge speculation started among Chinese citizens and many claimed that Chinese authorities may unban the crypto-assets market. But further, on 24 October, Chinese authorities updated a statement on the public opinion matter on the crypto crackdown decision. 

Chinese authorities updated on the official website that they want public opinion because of the recent sweeping crackdowns by authorities in Beijing against crypto miners. 

Through the updated statement, Chinese authorities tried to show that they are with the public benefits only and they don’t want any kind of action against the public needs.

This current ongoing public opinion panel will remain open from Oct. 21, and Nov. 21. Government authorities will collect all private, public, comments sections & public opinion to bring their decision on to delist crypto mining operations from the negative market list. 

Former Central Bank president of China on crypto crackdown 

Recently, the  Former President of the People Bank of China shared his stance on the Chinese authorities over the crypto ban. According to the former president, digital assets are not performing their functions in favour of the traditional economy and that is why it is not easy to fit digital assets in the current ecosystem of China, however, China launched digital Yuan to bring advancement in the payment system.

Read also: RACIB head says Russia does ‘absolutely nothing’ to regulate crypto