Xi Jinping calls cryptocurrencies āfinancial fraudā
Itās the immutable and unprecedented tracking qualities of blockchain technology that China is interested in for financial applications, the supply chain, and local governments. The narrative remains firmly āblockchain, not Bitcoinā.
In fact, rather than relaxing Chinaās stance on Bitcoin and other cryptocurrencies, its grip may be tightening instead.
President Xi Jinping gave a speech today on CCTV1 (the CCPās official channel). While the English version of his speech is not immediately available, co-founder of crypto investment holding firm Primitive Ventures Dovey Wan provided a quick summary.
She said that the president criticised cryptocurrencies and brushed them off as unregistered securities, āfinancial fraudā, and illegal Ponzi schemes. Read More Here