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Beijing, Shanghai and Guangzhou – or BeiShangGuang – has become the most concentrated area of legislation and blockchain policy in China, reports the publication of local finance Securities Daily December 7.
The Chinese securities newspaper analyzed the blockchain policies introduced throughout the country in recent years and concluded that there are 32 blockchain-related policies within the country. Meanwhile, 11 projects are concentrated in three areas: Beijing, Shanghai and Guangzhou. The publications states:
"Blockchain technology [is aimed] serving the real economy, focusing on the balance between innovation, regulation and security, and clarifying the bottom line of financial stability and information security ".
China has adopted a divided policy towards blockchain and cryptocurrencies, praising and adopting blockchain technology: Chinese President Xi Jinping has publicly defined the blockchain as a technological priority of the 21st century, banning cryptocurrencies.
Last month, the MIIT (Ministry of Industry and Information Technology) of China published a document calling for "accelerating" the development of standards for blockchain systems applications in various national industries.
Also last month, a new blockchain alliance, which involved 54 different companies, was founded in the city of Guangzhou, with the aim of promoting and developing blockchain technology in the country.
Meanwhile, the Chinese government allegedly censored some cryptocurrency materials. When the book "Mastering Bitcoin" by Andreas Antonopoulos appeared on the Chinese state television channel, the title was changed to "Blockchain: the road to the digitization of resources" and did not contain references to Bitcoin (BTC).
The People's Bank of China (PBoC), the Chinese central bank, had launched several warnings against cryptocurrencies, calling them "bubbles" in financing and investment. Earlier this week, the Beijing Municipal Finance Bureau reminded the public that the offer of security tokens (STOs) was considered illegal in the jurisdiction.
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