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Wednesday, October 11, 2017

Crypto News: Signs Appear Suggesting Chinese Government May Have Entered Cryptocurrency Market

Signs Appear Suggesting Chinese Government May Have Entered Cryptocurrency Market

After Chinese government’s ban of ICOs last month, there are continuous rumors saying that Chinese government is preparing to enter the cryptocurrency market. However, no official announcement has been made to verify the rumor.

Before Oct. 10 Beijing time, there was no substantial evidence backing up these rumors. Nevertheless, a few hints might show that Chinese government is entering, or has already entered the market.

On Oct. 10, the updated Biance APP shows that the developer of the APP is Ping An Bank Co., Ltd, which is a Chinese joint-stock commercial bank, with its headquarters in Shenzhen with a government background.

Biance has issued its token coin, called the Bianace Coin(BNB) three months ago. It runs negatively on the Ethereum Blockchain with ERC20. On the same day, China Bitcoin also updated its APP, and the developer is Xiamen Local Taxation Bureau.

"Maybe Ping An Bank’s involvement can be explained as commercial activities, but Xiamen Local Taxation Bureau’s control over China Bitcoin demonstrates the Chinese government’s interest in ICO and Bitcoin."

Full story at

Source: CoinTelegraph

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