Ah, China. You love blockchain but you hate the digital money it supports. You take out more blockchain patents than any other nation and you ban cryptocurrencies.

Now, a central district in your capital is banning events promoting cryptocurrencies in offices, hotels and shopping malls while your central government is shutting down blockchain-related news accounts on the WeChat social app.

According to NewsBTC, Red Li, the co-founder of 8BTC and a Chinese cryptocurrency researcher, tweeted out a document from the Chaoyang District government in Beijing ordering local financial authorities and police to ban offices and hotels from hosting events promoting crypto.

The South China Morning Post goes further, reporting that besides the event ban at least eight blockchain and cryptocurrency-focused online media outlets, some of which had raised several million dollars in venture capital, found their WeChat public accounts blocked for “violations against new regulations from China’s top internet watchdog.”

Why go after blockchain after the government has promoted it so heavily it even published a manual to help bureaucrats understand blockchain? Why now? Who knows? Read more here.

ThirtyK Staff
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