A look at China's wild month in crypto after President Xi praised blockchain

Quick Take

  • It has been a turbulent month since Chinese President Xi Jinping spoke positively about blockchain technology
  • Following the initial hype was a series of government crackdowns on cryptocurrency businesses, a revival of the 2017 cryptocurrency ban in China
  • We summarize the steps the government has taken over the past month to pave the way for China’s blockchain development agenda
China is looking to lead the pack on blockchain development, but that doesn’t mean it will loosen its grip over the market for cryptocurrencies.  Last month, Chinese President Xi Jinping declared he wants China to lead the world in blockchain development. Crypto markets showed clear excitement, bitcoin’s price jumped 12 percent the day after Xi’s remarks. […]

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