Regulators in China are considering a ban on cryptocurrency mining as an “undesirable” economic activity, according to a government document released Monday.
Cryptocurrency and precious metals share some similarities. Libertarians love them. Their values are social constructs. They’re mined. And accomplishing said mining takes a ton of energy.
Chinese authorities have busted what they said was one of the world’s largest online betting operations involving cryptocurrency, with over $US1.5 ($2) billion in illicit bets allegedly on the line.