RATE Group | China might have a change of heart towards cryptocurrencies
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China might have a change of heart towards cryptocurrencies

11 Nov China might have a change of heart towards cryptocurrencies

Posted at 07:56h in Cryptocurrency News by

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  • Chines newspaper publishes material about bitcoin.
  • Chinese authorities may soften their approach to digital currencies.

China adopted a tough approach towards the cryptocurrency industry; however, the attitude of the Chinese authorities seems to be changing gradually. 

The Chines state newspaper Xinhua published a lengthy article explaining the details about the first cryptocurrency. The authors of the story call Bitcoin the first successful application of Bitcoin.

The newspaper describes how bitcoin network works, explains the idea of mining and the BTC transactions confirmation process. The article looks like an educational material; however, the authors also mention the high volatility of Bitcoin prices and claim that the cryptocurrency is mostly used on a black market.

Slow improvements

While the story is not entirely pro-crypto, such publications in state-run newspapers may indicate that the authorities may be changing their touch attitude towards…

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