Crypto Employees in China Work From Home to Avoid Government Pressure

Not too long after embracing blockchain, Beijing has made it clear, one way or the other, that it didn’t mean Bitcoin. Increased scrutiny over the cryptocurrency sector and harsh measures against some companies have been implemented to supposedly protect citizens from scams. Sources say the government offensive has scared a lot of people employed in the industry and many have chosen to work from their homes rather than at the office. Businesses have been avoiding online chatter after rumors that a popular messenger is being watched closely.

Also read: Another Bank Run Highlights China’s Brewing Financial Crisis

Blockchain Not Bitcoin

When Xi Jinping, General Secretary of the Communist Party of China (CPC), told a Politburo meeting in October that the country has to gain an edge in blockchain development, many in the People’s Republic, and beyond, took that as a bullish statement for the whole crypto industry. But blockchain is basically a…