• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Sunday, May 28, 2023
SLC Metro News
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Crytpocurrency

China Curbs Short-Video Content On Crypto Mining, Trading, To ‘improve’ Content Quality – AMBCrypto News

china-curbs-short-video-content-on-crypto-mining,-trading,-to-‘improve’-content-quality-–-ambcrypto-news
Share on FacebookShare on Twitter

China banning different crypto related activities has been springing up in the news quite often, over the last few months. As it happens, China’s inhibitory stance against crypto continues to show up in the news, even as the year is about to end.

Despite crypto enthusiasts maintaining an optimistic narrative, such headwinds do directly or indirectly affect the crypto market.

No TikTok, no videos for “false and harmful content”

Chinese officials announced a prohibition on content that induces participation in cryptocurrency mining and trading in short videos. The official blog read as:

“In order for China to improve the quality of short video content, curb the spread of crypto false and harmful content, create clear cyberspace, these rules are formulated following relevant national laws and regulations, the “Internet Audiovisual Program Service Management Regulations” and the “General Rules for the Review of Online Audiovisual Program Content.”

Wu Blockchain, a crypto-news agency shared the same on Twitter.

Chinese officials announced that any content that induces participation in cryptocurrency mining and trading is prohibited in short videos. The world’s largest unlisted company is China’s Bytedance, and tiktok is the world’s largest short video platform. https://t.co/WEHrEfRlsC

— Wu Blockchain (@WuBlockchain) December 16, 2021

The impact

As observed in the tweet above, ‘world’s largest unlisted company in China is Bytedance, and TikTok is the world’s largest short video platform.’ Needless to say, crypto content creators on this video platform will find it difficult to continue operating.

Here are some stats that can put this in a better context. TikTok was the most downloaded app globally, with 89 million new users just in the US. Here 60% are between the ages of 16-24. 26% are between the ages 25-44. Next, consider the crypto traction on an age basis. Most crypto-users are aged between 18-25 and 26-40.

.. And it continues

In another recent development, it has come to light that the Chaoyang District People’s Court deemed Bitcoin ‘mining contracts’ as ‘invalid,’ the South China Morning Post reported. Further, the local government has also been asked to shut down remaining farms. As per the report, this is just another development that points to Chinese government’s intention, rather lack thereof, of ‘recognizing and protecting cryptocurrency-related interests.’

Resemblance is uncanny

The timing of such news is indeed an interesting. As crypto took off in India with millions of users signing up with exchanges, many companies naturally felt the need to advertise their services to draw in more users. However, this strategy led to backlash from lawmakers.

Indian regulators are still studying the possible implications of not just ads but the crypto ecosystem as a whole.

Where to Invest?

Subscribe to our newsletter

Shubham 1

Shubham is a full-time journalist at AMBCrypto. A Master’s graduate in Accounting and Finance, Shubham’s writings mainly focus on crypto-regulations across the United States and Europe. Also, a die-hard Chelsea fan #KTBFFH.

NCmyYWg

SLC Metro News

© 2021 SLC Metro News

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 SLC Metro News

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT