RATE Group | China Media Mentions Bitcoin Amid Nation’s Anti-Crypto Stance
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China Media Mentions Bitcoin Amid Nation’s Anti-Crypto Stance

11 Feb China Media Mentions Bitcoin Amid Nation’s Anti-Crypto Stance

Posted at 21:52h in Bitcoin News by

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Samson Mow of Blockstream has noted that mainstream financial media outlets in China are reporting about Bitcoin and crypto despite a nationwide commercial ban. Is the Chinese government finally softening on crypto or what?

Is crypto fever finally setting in?

China’s authoritarian government may be softening their stance on crypto, since President Xi Jinping came out publicly in support of blockchain technology. China has had a commercial ban in place barring exchanges, and financial institutions form engaging in crypto transactions, as well as shutting down the WeChat accounts of several crypto-related news outlets. The additional ban on crypto news outlets was allegedly to prevent scam ICO’s being advertised to Chinese citizens.

China’s ban has been in place since 2018 and since it was enacted Chinese traders have used various methods to get around the crypto ban. China’s crypto enthusiasts and traders have used social media apps like wechat to trade p2p privately in…

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