Chinese State TV Covers Hong Kong Crypto News, Says Binance CZ

Covering cryptocurrency news

China’s state-run Central Television (CCTV) reported news on crypto assets (virtual currency) on the 23rd.

Binance CEO Changpong Zhao (CZ) tweeted about the broadcast, commenting, “This is remarkable.” China’s CCTV, which bans cryptocurrency trading and mining, reported that Hong Kong will implement new cryptocurrency regulations from June.

CCTV (China Central Television) just broadcasted crypto. It’s a big deal. The Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.

Not saying past predicts the future. And not financial advice.https://t.co/2wcArnPI93

— CZ Binance (@cz_binance) May 24, 2023

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“Historically, this type of coverage has led to bull markets,” CZ said, noting that the past cannot predict the future and is not investment advice. He said the report has received a lot of attention in the Chinese-speaking community.

CCTV news shows images of Bitcoin (BTC) ATMs and NFTs (Non-Fungible Tokens) while reporting on Hong Kong regulations.

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Enforce regulation of virtual currency exchanges

The official name of Hong Kong is “Hong Kong Special Administrative Region of the People’s Republic of China”. Since 1 July 1997, Hong Kong has been a Special Administrative Region (SAR) of China since its return from Britain. Currently, Hong Kong is governed under the “one country, two systems” system, and Hong Kong is governed by a different system from China.

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Hong Kong’s Securities and Futures Commission (SFC) has announced that it has completed its consultation on the regulation of cryptocurrency exchanges. As a result, it has been officially decided to enforce new virtual currency exchange regulations from June 1 as planned. This news was reported by CCTV.

SFC re-authorizes cryptocurrency trading for individual investors while thoroughly protecting investors. For this reason, detailed rules have been set, such as the conditions for stocks that are permitted to be listed on exchanges.

Hong Kong’s new regulations could serve as a test of whether China will approve cryptocurrencies in the future, according to some speculation.

On the 17th, it was reported that Chinese state-owned company Greenland plans to apply for a license to operate a cryptocurrency trading business in Hong Kong. A subsidiary of Shanghai’s largest real estate developer, Greenland Holdings, which is 46.4% owned by the Shanghai Municipal Government, will obtain a license to offer trading services such as cryptocurrencies and NFTs.

connection: Chinese state-owned company Greenland aims to offer cryptocurrency services in Hong Kong

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