China: Calls For Lift On Cryptocurrency Ban After Xi Blockchain Speech

Expectations are growing that China will ease its cryptocurrency ban this week after president Xi Jinping called Blockchain part of the “new industrial revolution.”

Xi’s Blockchain ‘Breakthroughs’

Commentaries in both the local press and on cryptocurrency social media claim the time is right for Beijing to readdress the ban, which began in September 2017.

Xi mentioned Blockchain during a speech at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing May 28.

Along with other new technologies, he said that “breakthroughs” were constantly coming, echoing China’s ongoing commitment to implementing projects of its own. The country is set to develop national Blockchain standards by the end of 2019.

“Ever since the start of the 21st century, a new generation of industrial revolution is substantially reshaping the global economic structure with artificial intelligence, internet of things and Blockchain constantly making application breakthroughs,” one translation of the speech uploaded to Reddit reads…

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