Cryptocurrency speculation is prevalent in Xi'an, with more than 100 virtual currencies trading daily with a cumulative turnover of tens of millions of yuan

Following the real estate boom, "cryptocurrency speculation" is popular in ancient Xi'an. Tianyancha shows that as of August 30, there are as many as 322 companies registered in Xi'an with the word "blockchain" in their names, accounting for 83% of the entire Shaanxi Province. A practitioner said that there are currently more than 100 virtual currencies on the Xi'an market, and dozens of them have been listed on exchanges. The cumulative daily transaction volume is tens of millions of yuan. Various virtual currency platforms generally promote technologies such as "blockchain" and "decentralization", and some are named after international organizations and multinational financial groups, which is extremely confusing and therefore has a wider impact. A new round of regulation on virtual currencies has also reached Xi'an. Some practitioners said they have received regulatory signals. (Huaxia Times)