Crypto News: Amid concerns of dedollarization and inflation worries in the United States, Douyin, the Chinese version of Tiktok platform, is now displaying Bitcoin price when searched. This is similar to the initiative by Twitter platform, which also displays Bitcoin price when looked in the search console. This is an interesting development by the ByteDance owned company, considering the ban on cryptocurrencies by the People’s Bank of China. The central bank considers cryptocurrencies a risk to the country’s economic instability and from the aspect of financial crimes
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Tron founder Justin Sun revealed the new feature on China’s Tiktok earlier on Monday. The Bitcoin price is displayed against the Chinese currency when searched on the platform. He said in a tweet,
“Bitcoin price is now live on Douyin (Tiktok in China).”
Although China fundamentally opposes cryptocurrencies related operations in the country, it is said that the Bitcoin mining industry is quite strong in the country. In fact, China is encouraging Hong Kong in the direction of becoming a hub for crypto market and the blockchain ecosystem.
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