China Moves to Ban Video Games after Cryptocurrency Ban

China Moves to Ban Video Games after Cryptocurrency Ban

Will China ban China in the long run?

Recent news has been inundated with China’s efforts to prohibit the proliferation of cryptocurrency within its borders. This ban has covered ICOs, cryptocurrency trading, cryptocurrency exchanges, even cryptocurrency related promotion and events.

The Chinese government’s next regulatory target: video games. The regulation intends to undertake the problem of ‘device addiction’ and to dissuade its youth and adults from playing online games. NewsBTC editor, Joseph Young calls these consecutive bans made by the government as being ‘trigger happy’.

China began its attempt at banning Bitcoin as early as 2013. A study from June 2018 says that its central bank and other related government offices has barred its local banks and citizens from ‘dealing in Bitcoins’, pricing their services and goods based on Bitcoin, accept or use Bitcoin, and trade Bitcoin against the yuan or any foreign currency (Page 107).

Other countries that have made an implicit or absolute ban on cryptocurrencies are: Ecuador, Vietnam, and Namibia (South Africa).

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Vietnam Reportedly Launching First Fully-Authorized Cryptocurrency Exchange

Vietnam’s largest distribution company, Linh Thanh Group, is apparently partnering with Switzerland-based blockchain company KRONN Ventures to establish the first fully-authorized cryptocurrency exchange in the Southeast Asian country.  The information comes from a press release, which states that the two companies have signed a memorandum of understanding and have received a license to establish a cryptocurrency exchange in Vietnam. This news comes after the Zug-based KRONN Ventures AG brought together financial committees from Vietnam, Philippines, Cambodia, Bangladesh, and Sri Lanka to form a consortium in late last year. The consortium was formed to construct an international wiring system powered by blockchain technology. The aforementioned press release claims that the Linh Thanh Group and KRONN Ventures are building “a world-class cryptocurrency exchange” — which may have merit, given Zug’s standing as a leading cryptocurrency and blockchain hotspot in the world. KRONN has also worked with London’s King’s College on an artificial intelligence research facility. “The industry expectation is that by combining Linh Thanh Group’s massive distribution network, which is the largest in Vietnam, with the world-class technology of KRONN Ventures, the impact will be widely felt not only in Vietnam but also in other surrounding Asian countries,” states the press release — though we’re not confident the press release is capable of speaking for the entire blockchain and cryptocurrency industry. The move from Linh Thanh Group and KRONN Ventures is one likely driven by the desire of developing countries in Asia to not fall behind once the cryptocurrency market finishes correcting and commences on another positive trajectory — which is more likely to happen than not, given the behind-the-scenes development taking place on an industry level while coin prices fall and worthless tokens find themselves removed from the market. It is also a move that hopes to reverse the worrying trend in the region of regulators casting unfavorable eyes on the industry. What do you think about Linh Thanh Group and KRONN Ventures teaming up to launch Vietnam’s first authorized cryptocurrency exchange? Let us know your thoughts in the comments below!  Images courtesy of Shutterstock, Pexels. The post Vietnam Reportedly Launching First Fully-Authorized Cryptocurrency Exchange appeared first on Bitcoinist.com.
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BitMart Labs Hosts China Digital Economy Global Innovation Forum, Dedicated to Boosting China’s Blockchain Market

On March 24th, BitMart Labs, an international blockchain incubator launched by BitMart Exchange, will host the China Digital Economy Global Innovation Forum and BitMart One Year Anniversary Convention in Shanghai, China. Sheldon Xia, Founder, and CEO of BitMart Exchange will attend the forum and speak on BitMart’s past success. Co-hosted by HPOOL, China’s largest hard drive mining pool, BN Capital, a well-known blockchain investment institution, and Windin.com, the new generation of finance information platform, this event features keynote speakers, BitMart Club opening ceremony, and the introduction of US Security Token Offering (STO) service launched by BitMart Exchange. This global forum The post BitMart Labs Hosts China Digital Economy Global Innovation Forum, Dedicated to Boosting China’s Blockchain Market appeared first on CCN
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