The Chinese government’s approach to crypto and blockchain has been somewhat paradoxical. While issuing a total ban on crypto mining and trading, the country has been more liberal with other tech, like NFTs. Now, authorities are making a significant turn when it comes to Web3.
Most recently, China’s Ministry of Industry and Information Technology has aggressively pursued the development of Web3 and blockchain technologies. This initiative aims to make the country a leader in decentralized technology.
Source: Daily Coin