In China, Tik-Tok adds Bitcoin price search support: Report

Reportedly Chinese citizens are enjoying a “Bitcoin search” on the Chinese version of the short video platform Tik-Tok, against China’s crypto blanket ban.

China is a  very big crypto-hater country. In mid of 2021, The People’s Bank of China imposed a blanket ban on the crypto sector & also kicked out all the crypto companies from mainland China. Since 1 Jan 2022, the use of Crypto in any medium, either trading or gambling or payment, is illegal in China.

On 10 April 2023, Chinese crypto blogger Collin Wu reported that Douyin, a Chinese version of the short video platform Tik-Tok, added support for Bitcoin price. 

600 million Chinese users can search Bitcoin for the current day, highest, lowest, today’s opening, and yesterday’s closing prices. The report noted that Douyin supports Bitcoin in the form of decentralized peer-2-peer (P2P) currency. 

Collin noted that the latest move by this private company in China showed that Chinese society & private enterprises for digital assets are in bullish crypto support against the China crypto ban. 

In the present time, Chinese citizens can easily check the price of several crypto assets via different non-crypto finance-related websites. 

But in early 2022, China imposed a ban against popular coin tracking websites e.g Cointelegraph & Coingecko. 

Growing Crypto adoption in Hong-kong 

Hong Kong Special Administrative Region of the People’s Republic of China. Despite the crypto ban in China, Hong-kong ruling government allows crypto trading and is also working to expand the reach of crypto services under the jurisdiction of Hong Kong. 

Reportedly in Feb 2023, Chinese officials showed friendly presence during a government-level crypto focussed gathering in Hong Kong.

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