China’s Love/Hate Relationship With Blockchain, Cryptocurrency 

Commenting from the Nansha district of Guangzhou, China at the East Tech West event, Edith Yeung, head of 500 Startups’ China unit, said the Chinese government is investing in the blockchain but added “what they are not endorsing is the crypto part of things, which is challenging the fundamental of financial systems.” She made the comments after being asked what the strategy was for cryptocurrency in China, after the government banned cryptocurrency exchanges and initial coin offerings (ICOs) there in September 2017, marking the start of a crackdown on digital currency in the country. Source.