Overview of the Policy Shifts and Future Prospects
summary
China enforces 2017–18 bans on ICOs and in 2018 bars banks and payment firms from crypto services, and in June 2021 orders Sichuan shutdown of large mining farms that pushes big miners overseas; stated reasons are power shortages, taxation gaps, and carbon optics. Central policy simultaneously endorses blockchain as strategic, aiming to be 2025 world leader, and regulators publish reaffirmations (June 7). A regulatory-compliant public chain (Conflux) wins grants and partnerships and launches a Shanghai FTZ pilot for remittances and cross‑border payments.
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chapters (6)
- 0:00Introduction to China crypto
- 1:08Background on regulations
- 3:00Reasons for the crackdowns
- 6:01China's blockchain outlook
- 8:21Future prospects and compliance
- 13:04Conflux case study
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