United

Yuan

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/china-explores-blockchain-research-and-crypto-regulations/" data-wpel-link="internal">China Explores Blockchain Research and Crypto Regulations</a><br></p>
<p style="text-align: justify">In 2021, the <strong>Chinese government</strong> launched its most significant battle against cryptocurrencies, altering the global distribution of miners. Miners relocated to neighboring countries, especially to the United States region, under the pretext of China’s carbon targets. We all remember the operations conducted on crypto mining facilities.</p> 
<h2 style="text-align: justify" id="china-to-investigate-cryptocurrencies">China to Investigate Cryptocurrencies</h2> 
<p style="text-align: justify">Yuan Xiaobin, a member of the Chinese People’s Political Consultative Conference National Committee and chairman of the Zhonghao Law Firm Management Committee, stated that more research is needed in the blockchain field. WuBlockchain, a popular crypto journalist in Asia, detailed the local news as follows;</p> 
<blockquote> 
 <p style="text-align: justify">“Chinese legislators have proposed accelerating legislation related to emerging technologies like blockchain, providing clearer legal guidance and policy environment, and conducting cryptocurrency research related to technological innovation.”</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325417 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Cin-Kripto-Paralar.png" alt="" width="630" height="494"></p> 
<p style="text-align: justify">In other words, the prejudice-driven ban in the country has not yet found full support in politics. If this is accepted and more constructive work on cryptocurrencies begins, we could see the growth of Asia-backed crypto multiply.</p> 
<p style="text-align: justify">The strong demand in Asia during the ongoing crypto rise is undeniable. Especially since Hong Kong allowed individual crypto currency platforms, crypto has been experiencing good days since last June.</p> 
<h2 style="text-align: justify" id="china-and-the-crypto-ban">China and the Crypto Ban</h2> 
<p style="text-align: justify">In 2021, we even saw days when whistleblowers reporting crypto mining facilities were rewarded. <strong>China</strong> definitively announced that crypto mining would be phased out in the country due to its energy-intensive nature. While doing so, it claimed to consider its carbon emission neutral target, but it continues to use more coal than before to produce energy.</p> 
<p style="text-align: justify">Despite repeatedly banning cryptocurrencies and mining over the years, these measures have not seen an end. Moreover, the Digital Yuan did not reduce the regional demand for <strong>crypto</strong>. In the middle of last year, Hong Kong, as a Chinese Autonomous Region, opened the doors to individual investors for crypto, enabling many investors from mainland China to establish companies there and officially make their investments.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/china-explores-blockchain-research-and-crypto-regulations/" data-wpel-link="internal">China Explores Blockchain Research and Crypto Regulations</a></h5>

China Explores Blockchain Research and Crypto Regulations

Table of Contents

COINTURK NEWS

Autres articles publiés le 10 mars 2024

Andrew Tate Net Worth in 2024: How Much Does the ‘Top G’ Make?

Bitcoin (BTC) at $200,000 Is More Feasible Than You Think: Trader Gert van Lagen

BTC Price Outlook: Analyst Predictions and Analysis

AI Tokens Are More Hype Than Value Right Now, But This Project Can Revolution Your Way of Revenue

Worldcoin Token Spikes 42% As Sam Altman Rejoins OpenAI Board

Worldcoin corrects soon after gaining 45% in 24 hours – What now?

Join our free newsletter for daily crypto updates!