Shanghai government explores defi

[EAA-ALLAH]

The Shanghai government is open to experimenting with permissionless DeFi (decentralized finance) applications, Cointelegraph reports.

Conflux Network, a permissionless blockchain project endorsed by Beijing, said it has officially launched its Tree Graph Research Institute with the Shanghai government.

According to Fan Long, founder of Conflux and director of the TreeGraph Research Institute, the Tree-Graph Blockchain Research Institute will experiment with local authorities to build a regulatory compliance platform that can bridge global DeFi applications and government regulations.

He said: “DeFi is a new world and while it appears as though it may pose a challenge for regulators, they appear willing to listen. At this stage, the most important thing is to maintain a reliable communication channel between two sides – the DeFi innovators and the regulators.”

When it comes to new techniques and innovations, the Chinese government has shown signs of tolerance for experimentation in the past. Fan indicated that the complexity surrounding DeFi and other relevant distributed innovations will make open communication crucial for continued legislative acceptance.

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[Altcoin1998$]

Now a days china a huge populated country showing its interest on cryptocurrency market because they will launch a huge popular cryptocurrency the digital yuan supported by the China Central bank.

[hair]

I think China has already entered the crypto industry. Support from the Chinese government will make DeFi even more developed. This is a positive thing for DeFi's progress

[EAA-ALLAH]

I think China has already entered the crypto industry. Support from the Chinese government will make DeFi even more developed. This is a positive thing for DeFi's progress

China The digital yuan, PayPal accepts cryptocurrencies which makes DeFi and cryptocurrencies market more delight rich.

[hair]

China The digital yuan, PayPal accepts cryptocurrencies which makes DeFi and cryptocurrencies market more delight rich.

This will allow the DeFi space to grow with the support of the Chinese government. Of course, the potential DeFi will experience an increase in price

[Nostoman]

China The digital yuan, PayPal accepts cryptocurrencies which makes DeFi and cryptocurrencies market more delight rich.

This will allow the DeFi space to grow with the support of the Chinese government. Of course, the potential DeFi will experience an increase in price

That is right. Defi space will increase with the help of a Chinese government. Defi projects are currently being able to add value. It is moving towards becoming more valuable in the future.+1

[Fawpac2]

China government already taken all types of responses about cryptocurrency and others online virtual currencies. They already have launched the digital yuan.

[EAA-ALLAH]

China government already taken all types of responses about cryptocurrency and others online virtual currencies. They already have launched the digital yuan.

China a huge populated and economic development country which has strong technology. So they also expert in cryptocurrency because Binance a world famous exchange a China exchange.