{"id":255093,"date":"2021-05-21T03:20:35","date_gmt":"2021-05-21T00:20:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/"},"modified":"2021-05-21T03:20:35","modified_gmt":"2021-05-21T00:20:35","slug":"shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/","title":{"rendered":"#Shanghai Man: China&#039;s annual ban explained, &#039;crypto crash&#039; trending &#8230; and more"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d914c846db\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d914c846db\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/#FUD_leads_to_epic_crash\" >FUD leads to epic crash<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/#Bank_not_Nervos_about_regulations\" >Bank not Nervos about regulations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/#Shanghais_big_event\" >Shanghai\u2019s big event<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/shanghai-man-chinas-annual-ban-explained-crypto-crash-trending-and-more\/#Huobi_ventures_into_100_million_fund\" >Huobi ventures into $100 million fund<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Shanghai Man: China&#039;s annual ban explained, &#039;crypto crash&#039; trending &#8230; and more<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMDU1NGI2Y2ItYzIyYi00NDZkLTkxM2ItNTc4ZjMyODExYWE2LmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                A breakdown of major regulatory announcements in China after latest warning, and a major event at the Shanghai Belagio for the blockchain scene \n                &lt;p&gt;&lt;em&gt;This weekly roundup of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> from Mainland China, Taiwan, and Hong Kong attempts to curate the industry\u2019s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. &lt;\/em&gt;&lt;\/p&gt;&lt;h3&gt;Is China banning crypto again? &lt;\/h3&gt;&lt;p&gt;FUD watchers got a glimpse of an old favorite as three government bodies in China, including the China Internet Finance Association, the China Banking Association and the China Payment and Clearing Association re-warned the public about the risks of investing in cryptocurrencies. This dates back to a 2017 ruling that all exchanges must close and a 2018 ruling on ICOs. But is it actually illegal? \n<\/code><\/pre>\n<p>For starters, these types of announcements are a good indication that cryptocurrencies are starting to flare up in popularity. Whenever speculative digital assets begin to grab headlines and seep into more mainstream culture, these warnings and reminders are common as a method of discouraging more open adoption.<\/p>\n<p>Last year it was established that owning virtual currencies was not in itself illegal, only that virtual currencies could not be used as legal tender. Even though exchanges are supposed to be illegal, numerous exchanges operate within the country, even partnering with government organizations<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.scmp.com\/tech\/policy\/article\/2182681\/hainan-latest-chinese-free-trade-zone-tech-hub-ambitions\"> in free trade zones<\/a> and hosting large events. There is very much an understanding of being free to innovate, as long as it doesn\u2019t start breaking other laws, such as money laundering, fraud or aiding capital flight. If not for this convenient truth, there probably wouldn\u2019t be much of a column left for Our Man in Shanghai to write about.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"FUD_leads_to_epic_crash\"><\/span>FUD leads to epic crash<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The China FUD seemed to be the tipping point as people\u2019s fears of a 2018-like bear market began to seem real. \u201cCryptocurrency crash\u201d became some of the hottest keywords on the Chinese internet, showing up third on the trending list of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.jinse.com\/lives\/249324.html\">both search engine Baidu and micro-blogging platform Weibo<\/a>. An asymptomatic COVID-19 case in central Anhui province took the number one spot, in case anyone was wondering. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bank_not_Nervos_about_regulations\"><\/span>Bank not Nervos about regulations<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Nervos Foundation has launched an innovation fund with CMB International, a wholly-owned subsidiary of China Merchants Bank. China Merchants Bank is one of the top ten banks by holdings, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.advratings.com\/asia-pacific\/top-banks-in-china\">with over 84,000 employees<\/a>. The joint fund is intended to kickstart ecosystem building on top of Nervos and provides strong validation for the Hangzhou-based blockchain network. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/d065b297-fec3-4f0c-9c65-dc6f5cf7ab6d.jpeg\" \/><figcaption style=\"text-align: center\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/m.inmuu.com\/v1\/photolive\/news\/1053480\">World Digital Assets Summit<\/a><\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Shanghais_big_event\"><\/span>Shanghai\u2019s big event <span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If you were looking to meet top blockchain influencers and projects in China this week, odds are Shanghai was the best place to find them. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/m.inmuu.com\/v1\/photolive\/news\/1053480\">The Bellagio hosted the World Digital Assets Summit, a glamorous event<\/a> which featured panels, keynotes, charity auctions, and banquets for many of the top projects and VCs in the space. The offline events calendar is back in full force in China, which has managed to avoid the major lockdowns faced by many other countries in 2021. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Huobi_ventures_into_100_million_fund\"><\/span>Huobi ventures into $100 million fund<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Huobi Group, which owns the top cryptocurrency exchange by the same name, set up an investment arm on May 14th. This fund will primarily target projects that support NFTs, gaming, and Huobi\u2019s very own smart chain, HECO. Huobi Ventures will inject $100 million into projects via strategic investments and mergers and acquisitions over the next three years. <\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/shanghai-man-china-s-annual-ban-explained-crypto-crash-trending-and-more\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Shanghai Man: China&#039;s annual ban explained, &#039;crypto crash&#039; trending &#8230; and more&#8221; A breakdown of major regulatory announcements in China after latest warning, and a major event at the Shanghai Belagio for the blockchain scene &lt;p&gt;&lt;em&gt;This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry\u2019s most important news,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":255094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMDU1NGI2Y2ItYzIyYi00NDZkLTkxM2ItNTc4ZjMyODExYWE2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-255093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/255093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=255093"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/255093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/255094"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=255093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=255093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=255093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}