• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee

China: Calls For Lift On Cryptocurrency Ban After Xi Blockchain Speech

Wilma Woo by Wilma Woo
5 years ago
in News, Bitcoin, Bitcoin Regulation, Blockchain, News teaser
0

Expectations are growing that China will ease its cryptocurrency ban this week after president Xi Jinping called Blockchain part of the “new industrial revolution.”


Xi’s Blockchain ‘Breakthroughs’

Commentaries in both the local press and on cryptocurrency social media claim the time is right for Beijing to readdress the ban, which began in September 2017.

Xi mentioned Blockchain during a speech at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing May 28.

Along with other new technologies, he said that “breakthroughs” were constantly coming, echoing China’s ongoing commitment to implementing projects of its own. The country is set to develop national Blockchain standards by the end of 2019.

China Leads World in Blockchain Patent Applications

“Ever since the start of the 21st century, a new generation of industrial revolution is substantially reshaping the global economic structure with artificial intelligence, internet of things and Blockchain constantly making application breakthroughs,” one translation of the speech uploaded to Reddit reads.

Regulate, Not Ban, Says Local Paper

An opinion piece in Chinese English-language news resource Global Times Thursday meanwhile added to the sense of anticipation that regulators may look again at permitting Bitcoin and its ilk.

More than anything, it claims, a pressing concern for the government should be the threat of losing out to competition from more relaxed jurisdictions.

“…Fencing off bitcoin exchanges can’t effectively end bitcoin trade, and fears of a bitcoin bubble could leave China behind in the digital currency revolution,” the publication argues.

Instead, the country should consider rules and regulations that can ensure the technological advance works in the economy’s favor.

Bitcoin markets continued to fluctuate through the latter half of this week, rising in line with Xi’s words to hit six-day highs of $7585 before falling, only to retrace those highs.

Earlier, BTC/USD had nosedived to around $7070 before correcting upwards, analysts sounding the alarm that the $7000 barrier was unlikely to hold and that fresh support would only emerge at $5000.

What do you think about China’s future plans for cryptocurrency? Let us know in the comments section below!


Images courtesy of Shuttesrtock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Wilma Woo

Wilma Woo

Related Posts

Bitcoin ESG

Bitcoin Is The Ultimate ESG Asset, Expert Validates

3 hours ago
Upbit

Upbit’s Dark Hour: Fake APT Tokens Wreak Havoc In South Korea

6 hours ago
Barclays

Crypto Investor Barclays Announces Closure Of UK Accounts For British Expats

1 day ago
Friend.tech

New Report Dives Into The Good, The Bad, And The Ugly Side Of Friend.Tech

2 days ago
Bitcoin

Six And Counting: The Global Bitcoin Billionaire Phenomenon Unveiled

2 days ago
Bitcoin price Fed

How Has The Fed’s Decision Impacted The Bitcoin Price? Crypto CEO Weighs In

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Meta Tower Embarks on a New Frontier: $MT CEX Listing on...

    3 hours ago
  • Traders Fear Bitcoin Returning to $22,000, But That...

    3 hours ago
  • Label Foundation Joins Hands with LG Electronics for...

    7 hours ago
  • BNB’s Reign, $XRP’s Buzz, or...

    21 hours ago
  • $RUNE, $QUBE, and TRON Stand Out as Top Altcoins to Buy...

    22 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.