China Central Television Denies Rumors of Cryptocurrency Spring

In a 60-minute video, journalists did not go too far, openly calling digital assets scam or securities. After all, blockchain technologies, dapps are developing at a rapid pace in the country, and mining brings excellent income.

Despite this, it became clear that the position of the government has not changed. Blockchain, not cryptocurrencies, is the main direction of the development of the crypto sphere of China. This news can repay the erupted enthusiasm of crypto sphere followers around the world.

As early as last week, China’s position seemed to be moving forward. Recall that the country banned trading and ICO and closed cryptocurrency exchanges throughout the country in 2017.

Despite this, China has become a leader in blockchain technology over the past two years. This kept interest in cryptocurrencies and supported the market. Therefore, it is not surprising that rumors about the warming position of the state, within which one of the largest financial markets is developing, has attracted general attention.

Against the backdrop of rumors about the launch of the crypto yuan, CEO Binance admitted that perhaps the official representative office of the exchange will open in Beijing this year. Now, after watching a tv program, many users have experienced a real shock.

For example, the co-founder of Primitive Crypto Dovey Wan believes the real “witch hunt” has begun. Many overly active Chinese crypto enthusiasts and leaders in social media can become objects of close attention from the secret service.

Wan believes that a lively interest in creating a national cryptocurrency will soon be replaced by depression. After all, China has a potential intention and opportunities for the nationalization of the crypto sphere, including projects, mining and other infrastructure.

Such sentiments have already had a negative impact on the first cryptocurrency price. Bitcoin lost -1.28% in price and at the time of writing is trading at $8,432.7.