Is China Considering Lifting The Bitcoin Mining Ban? The NDRC Runs Public Survey

The National Development and Reform Commission is asking the Chinese public for their opinion on the Bitcoin mining ban. Is China’s government playing 4D chess or are they confused and considering backtracking their decision? Can they unring this particular bell or is this a too little too late scenario? Do they really care about what the general public thinks or is this survey just for the optics? As it usually happens with the Chinese government’s actions, they leave more questions than answers. Nevertheless, let’s unpack the information available and see what Twitter thinks about the situation. First of all, the official announcement says: “In accordance with the relevant work arrangements for the rectification of virtual currency “mining” activities, the National Development and Reform Commission and relevant departments have revised the “Industrial Structure Adjustment Guidance Catalog (2019 Edition)”, and now solicit opinions from the public.” So, they’re considering “rectification of virtual currency “mining” activities,” by which they mean the Bitcoin mining ban. And by “the public,” they mean “Relevant units and people from all walks of life can provide feedback.” BTC price chart for 10/25/2021 on FTX | Source: BTC/USD on TradingView.com Is China Actually Considering Lifting The Bitcoin Mining Ban? Opinions differ. However, according to Three Arrows Capital’s Su Zhu, that...