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Wednesday, April 11, 2018

In China, cryptocurrencies remain banned - while the government pours millions into blockchain tech...

China seems to still be figuring out their comfort level with the cryptocurrency world, while making an effort to not get left behind technologically while enforcing a cryptocurrency trading ban.

Blockchain technology itself has grabbed the attention of both the Chinese government and the private Chinese tech industry - they actually lead the world in blockchain related patents already - with over double America's total of 112, with a total of 284 over the last 2 years.

Now a new fund of over $1.6 billion allocated to 'innovative blockchain startups' includes $400 million of Chinese government funds, with the rest from Chinese venture capital firm Tunlan Investments.

Still, no signs of letting up on the cryptocurrency crack down.  For now, China is big on blockchain, and bad on cryptocurrency.

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Author: Adam Lee
Asia News Desk