Is China Secretly Nationalizing the Bitcoin Industry?
There have been conspiracy theories suggest that the Chinese government attempts to nationalize the bitcoin ecosystem after China’s ban on ICOs and crypto services. But no evidence has shown that the PBOC or other supervisory authorities are working to monopolize the bitcoin world as they have generally done in other sectors.
However, this National Holiday witnessed the born and spread of rumors indicating that the watchdog is taking actions to manipulate the market.
On October 8, two official WeChat accounts posted pictures claiming that Binance released the latest version of the app for iOS with the ID of Ping An Bank Co., Ltd., which caused a huge buzz on Chinese social media.
Facing the barrage of doubts, He Yi, CMO of Binance, replied on Weibo that it has become so cheap to start a rumor and they only worked with one of Ping An’s subsidiaries. But the post has been deleted now.
According to the announcement on Binance, the latest version of its application was released on Sept 11th. And the developer is Shenzhen HetangSmart Co., Ltd. But I failed to get any information about the company except that they are a smart watch producer.
But when I talked with an employee at CNBTC, he asked me that:
“What’s the point of the acquisition when the exchange must be shut down?”
Anyway, he added that the new platform will be likely to have shareholders, but they haven’t received any notice on such acquisitions.
With China’s clampdown on ICOs and exchanges, optimists believe that China will reopen exchanges with a license. But the vast majority in the community choose to explore foreign markets.
Bter has changes its name into gate.io and Yunbi BigOne on which all tokens delisted from the platform are available. Creator of TRON is now in the USA saying he wants to focus on the development. And the Hcash team is working to be listed on new exchanges.