RATE Group | China’s State-Controlled Cryptocurrency Is About to be Launched
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China’s State-Controlled Cryptocurrency Is About to be Launched

13 Aug China’s State-Controlled Cryptocurrency Is About to be Launched

Posted at 09:14h in Cryptocurrency News by

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China's cryptocurrency to be launched

China is finally ready to roll out its official virtual currency which is believed to be some middle ground answer to the state’s anti-crypto crusade. Having been on the anti-crypto end for a while now, it might come as a shock to hear that the Chinese government is actually for crypto after all – just not the conventional crypto coins.

The China Crypto project started some years back, just when the crypto craze was at its peak. Cryptocurrency had just started gaining wide recognition and so were the illegal activities it is said to enable.

During the 2017 crypto hay days, a ton of crypto firms sprouted out of virtually every corner of the earth and the virtual world. People were rushing into the crypto world, whilst crypto exchanges and other crypto-related firms were on the rise to meet the demand.

Unsurprisingly, stats show that a good number of the crypto ventures and initial coin offerings (ICOs) were fake and headed by con artists. Not so long into the cryptocurrency craze,…

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