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China banned the transactions of digital currency in September 2021 due to its adverse impact on the individuals and environment.
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Beijing, the capital of China, is to support blockchain or Web3 technology, considering it an inevitable trend in the future technology sector.
Two years ago, in September 2023, China banned transaction and payment activities based on cryptocurrencies. All the firms working on the digital assets were blocked, leaving Web 3.0 companies blocked for Chinese users. But now, Beijing, China’s capital is supposed to make Web 3.0 or Blockchain inevitable.
Let’s take a look at the overall scenario to explore why Beijing supports blockchain technology.
Why did China ban Bitcoin?
China banned all forms of cryptocurrencies in 2021 concerning the mining effect on the ecosystem and individuals using digital assets for money laundering. After maintaining a hostile partnership with the crypto industry since 2013, t
We współpracy z: https://www.thecoinrepublic.com/2023/08/27/chinas-capital-beijing-in-making-blockchain-inevitable/
