China is rapidly adopting a pro-blockchain stance following
news it would bring in a so-called “crypto law” in January next year. In a sign
of China’s abrupt official about-turn on blockchain, officials are deleting
posts that claim the technology is a scam, Twitter-based crypto news resource
cnLedger reported on Oct. 28.
Chinese officials and president Xi Jinping caused a stir late
last week after the latter gave a speech condoning blockchain. China, he said,
would become the world’s foremost proponent of the technology and would seek to
implement it throughout the economy.
According to cnLedger, in line with previous reactions to
official policy, major social media platforms are already censoring
anti-blockchain sentiment. “Articles saying blockchain technology is a scam are
now BANNED,” it stated.
The move is somewhat ironic, cnLedger noting that in the
past, it was content related to blockchain and cryptocurrency which
administrators would seek to remove.
Similarly, it was blockchain platform Tron (TRX), formerly
under intense scrutiny from Beijing, which benefited from the past week’s
developments. In the past 24 hours alone, TRX/USD has gained almost 25%. CEO
Justin Sun had announced a major, as yet unknown, partnership with what he
called a “mega corporation” on the same day as Xi’s speech.
The post Tron Sees Huge Interest Spike After China Report appeared first on Cryptoverze.
