China Pushes National Blockchain Network Under 19-Measure Plan
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China moved to expand a national blockchain infrastructure plan through a 19-measure policy package. The plan sits inside a wider push to connect blockchain with computing and industrial development, while mainland China’s restrictions on cryptocurrency transactions remain in place.
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What it means
People building on blockchain infrastructure in China, as well as companies and agencies that use it, are the main groups affected today. The plan points to a nationwide network and ties it to computing and industrial development, so the immediate effect is a more formal national framework for that work.
What changes in practice is the policy setting around blockchain, not the status of cryptocurrency trading. The nationwide network plan is set out alongside a continuing ban on cryptocurrency transactions, so blockchain development can move forward without that restriction changing. (per cryptonews.com)
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