China’s love/hate relationship with cryptocurrency has taken another turn. After banning cryptocurrency trading, the government has started its own index, ranking the top 28 tokens and their public blockchains.
Ethereum (ETH) was ranked as the top public blockchain and cryptocurrency, according to the Chinese government’s new blockchain and cryptocurrency index. Bitcoin (BTC), the world’s first and biggest cryptocurrency, ranked 13th, Reuters reported.
Although China has banned crypto trading and ICOs, the government views blockchain as a key part of the future economy. China filed the most blockchain patent applications last year, according to data collated by Thomson Reuters’ Practical Law from the World Intellectual Property Organization database. China’s central bank has been among the first to look into sovereign cryptocurrencies. Read more here.