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How Crypto Enemy China Is Embracing NFTs, With Conditions Attached

January 30, 2022
Source: thesingaporetime.com thesingaporetime.com
News Snapshot:
The Chinese government has made clear its distaste for the freewheeling, anti-establishment cryptocurrency community. When it comes to crypto blockchain technology, however, that’s a different story. President Xi Jinping has called for the mass adoption of digital ledgers to help establish China as an industrial and digital powerhouse. The country is also embracing the latest blockchain craze – non-fungible tokens – but with strings attached. 1. Didn’t China basically ban crypto? More or less. Beijing’s primary concern is maintaining social and economic stability, hence its negative view of speculative and volatile crypto trading and its association with gambling, money laundering,...
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Tags: acquisition | Ant Group | ban | bank | bitcoin | blockchain | boycott | China | Chinese | community | crypto | cryptocurrency | currency | digital | Economy | energy | fintech | fraud | gambling | online payment | Renminbi | technology | Tencent | Xi Jinping | Yuan

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