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Chinese state television warns against blockchain-based, play-to-earn games as popularity surges

December 16, 2021
Source: scmp.com scmp.com
News Snapshot:
Chinese state television has warned citizens against taking part in blockchain-based, play-to-earn online games such as Farmers World, in the latest sign of Beijing’s aversion to anything cryptocurrency-related. China Central Television (CCTV) fired warning shots in two reports over games that encourage people to play in order to earn cryptocurrencies, depicting them as scams. The environment for cryptocurrencies in China turned sour after Beijing banned cryptocurrency trading and mining in the country, viewing the industry as a threat to financial stability. The CCTV reports put the spotlight on two intermediaries in the northwestern province of Shaanxi and the southeastern province...
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Tags: Beijing | bitcoin | blockchain | China | Chinese | communist | crypto | currency | finance | fintech | fraud | Fujian | Hong Kong | News Media | Propaganda | Renminbi | Shaanxi | social media | Software | technology | television | venture capital | Vietnam | website | Yuan

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