After Chinese government’s ban of ICOs last month, there are continuous rumors saying that Chinese government is preparing to enter the cryptocurrency market. However, no official announcement has been made to verify the rumor.
Before Oct. 10 Beijing time, there was no substantial evidence
backing up these rumors. Nevertheless, a few hints might show that
Chinese government is entering, or has already entered the market.
Ping An Bank’s involvement
On Oct. 10, the updated Biance APP shows that the developer
of the APP is Ping An Bank Co., Ltd, which is a Chinese joint-stock
commercial bank, with its headquarters in Shenzhen with a government
background.
Biance has issued its token coin, called the Bianace
Coin(BNB) three months ago. It runs negatively on the Ethereum
Blockchain with ERC20. On the same day, China Bitcoin also updated its
APP, and the developer is Xiamen Local Taxation Bureau.
"Maybe Ping An Bank’s involvement can be explained as commercial activities, but Xiamen Local Taxation Bureau’s control over China Bitcoin demonstrates the Chinese government’s interest in ICO and Bitcoin."
Until now, there’s still no official confirmation. Nobody
can be one hundred percent sure what Chinese government is going to do
next.
In fact, the CEO of Biance just claimed that Ping An Bank
did not purchase Biance. However, he didn’t explain why the developer of
Biance’s APP is Ping An Bank now. Meanwhile, Xiamen Local Taxation
Bureau hasn’t said anything yet.
Though the CEO of Biance refuted the “rumor”, there’s still
no solid evidence or explanation proving that whether the Chinese
government has entered the market or not.
Considering the size of the Chinese market, if the
government indeed gets involved in the market, an earthquake is about to
happen.
