📰 Why is the State Council once again calling for a blockchain network? This time, it’s different from what it said a couple of days ago.
This issue was just discussed a couple of days ago, and now there’s a new development. In its latest economic blueprint, the State Council proposed building a nationwide blockchain network. The 19 measures also include the East Data West Computing initiative, while explicitly calling for safeguards against finance drifting away from the real economy and toward speculation. Note that the official document didn’t mention Bitcoin this time, suggesting that policy remains focused on the application of underlying technology rather than speculation.
💡 This news is neutral to somewhat positive regarding regulators’ stance on blockchain technology itself. What does it mean? At least in the short term, policymakers won’t reject blockchain technology out of concern about cryptocurrency risks. However, risk-prevention requirements also limit its potential to become a mainstream financing tool. This assessment would no longer hold if large-scale, illicit inflows of funds into cryptocurrencies were to occur.
BTC $83,053 ETH $2,515
⚠️ This is not investment advice. Predictions are for reference only.
#Chinaorderscreationofnationalblockchainnetwork
#ETH $ETH
This issue was just discussed a couple of days ago, and now there’s a new development. In its latest economic blueprint, the State Council proposed building a nationwide blockchain network. The 19 measures also include the East Data West Computing initiative, while explicitly calling for safeguards against finance drifting away from the real economy and toward speculation. Note that the official document didn’t mention Bitcoin this time, suggesting that policy remains focused on the application of underlying technology rather than speculation.
💡 This news is neutral to somewhat positive regarding regulators’ stance on blockchain technology itself. What does it mean? At least in the short term, policymakers won’t reject blockchain technology out of concern about cryptocurrency risks. However, risk-prevention requirements also limit its potential to become a mainstream financing tool. This assessment would no longer hold if large-scale, illicit inflows of funds into cryptocurrencies were to occur.
BTC $83,053 ETH $2,515
⚠️ This is not investment advice. Predictions are for reference only.
#Chinaorderscreationofnationalblockchainnetwork
#ETH $ETH