Will China ban the bitcoin mining in the near future?

[PRDAEcontact]

" The People's Bank of China has put to rest a rumor that it would order a domestic shutdown of bitcoin mining activities, according to a local media outlet."

"It is said that China's central bank did not host any meetings to discuss a policy requiring the closure of bitcoin mining operations in the country by a certain deadline. "

Thus, will China ban the bitcoin mining in the near future?

[smartcomet]

Ming pools are  geese that laid the golden Eggs,  so i guess China will not.

[jseverson]

Not likely. They have no incentive to do so. Miners earn a lot, and I'm guessing they help bring foreign money in. China wants money to stop flowing out, not in. I don't like that China has majority of Bitcoin's hashrate, but I think they would be stupid to put an end to mining.

Despite all these people saying that China has an axe to grind with Bitcoin, I don't buy it. They have a problem in their hands with capital outflows, so they're simply plugging holes to address that problem. ICOs and exchanges let foreigners take money from the Chinese and they don't want that. If they didn't like Bitcoin, they would simply ban it just as they did Facebook, etc.