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China Crypto Roundup (Aug. 2-Aug. 8):Beijing Embrace Blockchain, Shanghai Continue Crackdown on Virtual Curreny

1. Beijing government issued a document, plans to fully deploy Blockchain

On August 3, the General Office of the Beijing Municipal People’s Government issued a notice on the “Beijing’s Implementation Plan for Accelerating the Construction of a Global Digital Economy Benchmark City”.

The “Implementation Plan” pointed out that blockchain will be deployed ahead of schedule. Accelerate technological breakthroughs in consensus mechanisms, distributed storage, cross-chain protocols, and smart contracts around the high-performance, security, privacy protection, and scalability of blockchain, and achieve key technological breakthroughs in the performance of large-scale blockchain algorithms.

2. Shanghai Headquarters of the People’s Bank of China(PBoC) : Continue to guard against the risks of virtual currency transactions and ICO token issuance

The Shanghai Headquarters of PBoC held a work conference for the second half of 2021. The meeting stated that it will continue to guard against the risks of virtual currency transactions and ICO token issuance, and urge the rectification of newly discovered illegal businesses.

3. Mi Store Portugal accepting cryptocurrency payment, Xiaomi responded

Well-known Chinese smartphone maker Xiaomi responded with Mi Store Portugal accepting cryptocurrency payment. The company said that Mi Store Portugal is an authorized partner of a third-party Xiaomi store in Portugal, which is independently operated locally and is not related to the operation of Xiaomi.

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