CCTV programming has an audience of over 1 billion in mainland China.
On May 23, the state broadcasting corporation China Central Television (CCTV) aired a member on the adoption of cryptocurrencies in Hong Kong. As reported in the member, Hong Kong regulators “ have made final preparations ” for the trading of virtual assets in the special executive region and will accept applications from virtual asset trading platforms.
Zhonghui Cai, an official from the Securities and Futures Commission (SFC) of Hong Kong, clarified during the airtime that the regulation of virtual asset providers faces challenges similar to cybersecurity, surety of clients ’ assets, and potential conflict of interest between platforms and clients. Preliminarily, reported that while the guidelines will come effective in June 2023, the SFC has not approved any virtual asset trading platform servicing retail investors.
CCTV is China’s largest state broadcaster, with various programs catering to an audience of over 1 billion people. Interestingly, nothing overtly negative was spoken about cryptocurrencies during the 98-alternate segment. This is in stark contrast to the strict regulation imposed on cryptocurrencies by authorities in mainland China, which includes a blanket ban on Bitcoin BTC $26,261 mining and cryptocurrency exchanges. Still, the ownership of cryptocurrencies is presently allowed.
On April 13, Douyin, the Chinese version of TikTok with over 1 billion users, began issuing cryptocurrency price quotes in its search index. One day latterly, the price quotes were removed and replaced with a message stating “ Unofficial digital currencies don't possess the equal legal standing as fiat currencies. Please invest cautiously."
Some praised the allotment of crypto to be mentioned in state media, including Changpeng Zhao. “ It’s a big deal. The Chinese-saying communities are buzzing. Historically, coverages like these led to bull runs," he spoke on Twitter.
(ZHIYUAN SUN, Cointelegraph, 2023)