China banning various activities identified with digital currency has been in the news frequently in recent months. As the year goes on, China’s moderate stance against cryptocurrencies continues to dominate the news, even as the year draws to a close. Despite the fact that crypto enthusiasts maintain a hopeful account, such headwinds directly or implicitly affect the crypto market. Chinese authorities have reported a denial of content inciting participation in mining digital currencies and exchanging short videos.
Wu Blockchain, a crypto-news agency shared the same connected Twitter.
The official blog read: “In order for China to improve the quality of short video content, curb the spread of false and harmful cryptographic content, create a clear cyberspace, these rules are formulated in accordance with relevant national laws and regulations, the” Audiovisual program Internet Service management regulations ”and“ General rules for the examination of the content of online audiovisual programs ”.
No TikTok, no videos for “false and harmful content”
Chinese authorities have announced that excessive content that induces information about successful cryptocurrency mining and trading is banned from successful shorthand videos. The world’s largest unlisted institution is China’s Bytedance, and tiktok is the world’s largest abridged video platform.
As successfully stated in the tweet above, “The world’s largest successful unlisted institution in China is Bytedance, and TikTok is the world’s largest abbreviated video platform.” Needless to say, crypto content creators connected to this video level will struggle to keep functioning.
Here are disproportionate statistics that allow us to implement this success in a modified context. TikTok was the most downloaded app in the world, with 89 users calling cardinals enjoying huge success in the United States. Here, 60% are between 16 and 24 years old. 26% are between 25 and 44 years old. Then see the crypto pull connected by age. Most crypto users are between the ages of 18-25 and 26-40.
.. And this continues. In the development of other appellants, it has become clear that the Chaoyang District People’s Court has ruled the Bitcoin arsenic “mining contracts” “invalid,” the South China Morning Post reported. In addition, the section authorities were further urged to reopen the remaining farms. According to the report, this is a different and reasonable improvement that indicates the intention of the Chinese government, or its insufficiency, to “recognize and protect interests related to cryptocurrency.”
The resemblance is disturbing The timing of the specified quality is therefore interesting. As crypto has successfully taken India offline with millions of users signing up for exchanges, many companies have felt the demand to advertise their services to many successful users. However, this strategy has led to backlash from lawmakers.
Indian regulators are inactive to study the possible implications of unreasonable advertisements but of the arsenic of the crypto ecosystem as a whole.
Summary of the news:
- China Controls Short Video Content on Mining and Cryptocurrency Trading to “Improve” Content Quality
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