China wants to ban Bitcoin for wasting resources

Updated: April 12, 2019 10:42 am

Bitcoin, the digital currency may be considered as revolutionary for the economies but China thinks otherwise. The country is proposing to ban the practice of mining the cryptocurrency for wasting resources. The National Development and Reform Commission, the country's chief planning regulator, is proposing to ban Bitcoin mining, which it says has seriously wasted resources, Engadget reports.