China’s Sina Finance Adds Crypto Index to Mobile App

Asia Blockchain Review
July 24, 2019

A finance-focused news channel owned by Chinese tech giant Sina Corp has added a crypto index to its mobile application.

As reported by Cointelegraph, the new index on Sina Finance provides data on prices and performances of major cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Litcoin (LTC), XRP and Ether (ETH).

The feature also provides the latest news in the industry and is only available on Sina Finance’s mobile app.

China’s Complicated Relationship with Crypto

Since 2017, China has hardened its stance towards cryptocurrencies by banning both Bitcoin trading and initial coin offerings (ICOs). The country’s popular social media and payment operator, WeChat, also banned crypto transactions as part of its payment policy to terminate accounts involved in crypto trading.

Chinese authorities have meanwhile suggested the potential elimination of all crypto mining in the country. The National Development and Reform Commission (NDRC) has included crypto mining in its draft for a revised list of industrial activities slated to be shut down, citing regulatory or ecological reasons. 

The inclusion forms part of the NDRC’s wider Catalogue for Guiding Industry Restructuring that determines which industries will be fostered, restricted or eliminated.

Investor Interest in Crypto Continues to Climb

Nevertheless, Bitcoin and crypto have been making their way back into the media spotlight in China. Following Facebook’s announcement of its new Libra crypto project, China’s official Xinhua news agency published a report stating that investor interest in cryptocurrencies has been on the rise.

Additionally, a report by Big Four audit and consulting firm Deloitte recently claimed that as much as 73% of Chinese enterprises consider blockchain to be among their top strategic priorities.

Source: https://cointelegraph.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
GSMA Hong Kong Expresses Positive Outlook for Blockchain
Paul Ulrich, Senior Policy Manager of APAC, GSMA Hong Kong, revealed that developing countries acros...

August 22, 2019

India’s Reliance Jio Unveils Its Massive Blockchain Network
Reliance Jio will install across India one of the largest blockchain networks in the world “with ten...

August 22, 2019

Mosendo, the Final Piece of the Cryptocurrency Payments Puzzle
We kick off the interview series with Clayton Roche, the Head of DeFi with Mosendo and the community...

August 21, 2019

Escalating Protests in Hong Kong Reinforce Bitcoin’s Safe Haven Status
Demand for Bitcoin is surging as more people look to reliable safe haven currencies in the face of e...

August 21, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us