Bitcoin broadcast on state TV: Is China fueling the next mega bull run?

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May 24, 2023 5:52 p.m. | 2 minute read

Binance CEO Changpeng Zhao drew attention to a broadcast segment discussing cryptocurrencies, with the Bitcoin (CRYPTO:BTC) logo, on Chinese state television.

“This event is significant,” he said. “Historically, shows like these have been harbingers of rising market trends. However, this is not a prediction for the future or financial advice.”

The segment included a glimpse of what appeared to be a Bitcoin ATM located in Hong Kong, featuring a large, striking blue logo and a prominent “Buy Bitcoins” option.

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The show, which aired on Tuesday, also touched on non-fungible tokens (NFTs) and took a closer look at Hong Kong’s licensing framework for virtual asset trading platforms, despite China’s ban. of cryptocurrency usage in 2021.

Also Read: Crypto Attacks Drop 70%: But Downtrend Is Temporary Lull, Says TRM Labs

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Along with parallel developments, Nanjing, the capital of east China’s Jiangsu Province, on Monday celebrated the launch of Metaverse’s technology and application innovation platform in China.

The objective of this platform is to stimulate metaverse R&D initiatives on a national scale.

Led by Nanjing University of Information Science and Technology (NUIST), this government-supported entity consists of founding members from a wide range of academic institutions and companies involved in the metaverse across the China.

The ambition of the platform is to federate the resources of educational institutions and companies in China, thus intensifying research efforts in fields related to the metaverse, a term designating a virtual universe or an aggregated virtual space integrating all virtual worlds. and augmented reality and virtual reality. experiences.

As various Chinese cities vie for a leading role in the development of the country’s metaverse, Nanjing unveiled its strategic plan for the metaverse in February 2023.

The plan aims to cultivate a booming industry, which is expected to generate annual revenues of more than 135 billion yuan ($19.13 billion) by the end of 2025.

Next:Japan Cracks Crypto Whip and Implements Strict Travel Rule to Combat Money Laundering

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