China’s biggest economic news website known as Sina Finance has taken a rather bold step in an anti-crypto country like China. The news website which focuses on finance has integrated crytocurrency indicators to its Mobile App.
The new features shows the latest rates of crytocurrencies such as Bitcoin, Litecoin, Ether and the likes. Although this daring move is yet to be officially announced by SinaCorp – owners of Sina Finance, a Chinese based twitter handle cnLedger had made the claims known in the public domain.
According to cnLedger, the new feature is not yet on Sina Finance website but rather on its mobile application.
This is a rather daring move as It is well known that China is totally against crytocurrency. It has been illegal to trade crptos in the country since 2017. You can own Bitcoin in China but you can’t trade it.
Popular social media based in China, WeChat, had in recent time stopped all transfers that involves crytocurrency. They went as far as removing all accounts that are involved in cryto trading.
Furthermore, in a bid to strengthen the country’s position on the issue of crptos, the Chinese Government proposed a total eradication of crypto-mining in the country in April 2019
Chinese Global Times has lamented the country’s stance, saying that:
“If China cannot participate in this new phase of the digital economic revolution, then it may find itself in a passive position within currency competition, not to mention it could lose its advantages within the internet and financial technology sectors.”
Nevertheless, as Crytocurrencies have started gaining momentum after the introduction of Facebook’s Libra and the new surge of Bitcoin, followers of crytocurrency in China have noted that citizens are beginning to show interest in the next generation digital currency. Chinese biggest search engine, Baidu has revealed this in its recent trends.