Cryptonian

2023/03/18 00:51

China’s Changing Stance For Crypto

Despite the open-ended presumption that China bears an anti-crypto stance, recent developments have indicated otherwise. It appears that officials from China’s Liaison Office are interested in Hong Kong’s progress with cryptocurrency. These officials are reportedly studying the country’s approach towards digital assets, which many people believe to be a net positive for the industry.

However, this trend is not confined to just governments; private companies on the Chinese mainland are also investigating Web3 technologies and the use of crypto. China Telecom, for instance, has been collaborating with major crypto firms to develop SIM cards that are based on blockchain technology.

The culmination of all of these reasons, in addition to the constructive measures taken by the central bank to support a more rapid recovery, is assisting in building a positive attitude regarding the cryptos that fall under the “China narrative”.

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