The chinese government has relaxed the regulation on crypto-currencies

February 22, 2020 by Xavier

The attitudes of the chinese government towards crypto-currencies are disliked by observers. From September 2017, China has outright banned any activity related to digital assets, to finally decide to issue its own digital currency with a national one.

A reform at the legislative level

It is clear that the services of digital payment are also gaining ground in the country of the middle, like Alipay, which is not the case for other asian countries such as Japan.
And according to the recent solicitation of the President of china itself, China has always been convinced of the performance of the technology Blockchain in terms of data management and security. Against all odds, the project emission of the Yuan digital, for which the project moves quickly, arouses the curiosity of the world.
If one refers to the rigidity of legislators chinese vis-à-vis the crypto-currency in its infancy, it is clear that the launch of a crypto-national currency has been possible only by the injunction to a new law compatible with the project.

And the future of the Yuan digital?

Informed by the decision of the leaders of the people’s Bank of China in October of last year, the Bank submitted recommendations for 80 patents, focusing on the launch of a crypto-currency.

“Almost all of these patent applications relates to the integration of a system of digital currency infrastructure existing bank,” said Mark Kaufman, a partner in the patent within the firm Rimon Law.

On this fact, these recommendations of the patent are parallel to the vision of the State that advocated the exploitation of the Blockchain, in order to encourage the Chinese to hold the crypto-currency national to come.
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