According to local sources, the Chinese government is trying in every way to extinguish the wave of enthusiasm unleashed, perhaps more in the West than in China, by President Xi Jinping's statements released a few weeks ago; many Chinese accounts on social media are pointing out that China has decided to embrace blockchain technology, not cryptocurrencies, which are still considered merely speculative assets. Online various Chinese documents circulate that once translated (or with an online translator or thanks to the work of the community itself that makes them available in English) show how the Chinese government has not completely abandoned the anti-cryptocurrency rhetoric, although it is not possible not to note that in these documents rarely appear explicit references to bitcoin. Even with regards to blockchain technology, the government seems willing to cool enthusiasm; as reported, among others, also by cointelegraph the CCTV (main television broadcaster of mainland China) has recently broadcast an episode of "Focus Report" (well-known in-depth program) with a fairly explanatory title "blockchain is not a Cashchain". The television program highlights how many companies are exploiting the enthusiasm for technology to improve their commercial or financial performance; of the more than 32 thousand Chinese companies that claim to use a blockchain, however, only 10% actually do it.

In the same episode, Focus Report shows that China is the first country in the world when it comes to blockchain technology, along with the USA, and that this phenomenon has also given rise to numerous scams, so much so that currently in the country there have been the beauty of 566 legal cases involving companies or individuals involved in various ways due to the blockchain industry. According to Yu Jianing, deputy director of the Blockchain Committee of the China Communications Industry Association, this very fact is actually positive, only through a regulatory framework that prevents the committing of impunity with impunity is it possible to fully promote the use of blockchain technology in the country. The reason we are talking about all this is that we want to highlight how China, despite having in a certain sense revised its approach to this technology, just think that it no longer threatens to make mining illegal, however it has not completely abandoned a certain rhetoric and, perhaps not even wrongly, right now it seems focused through the press to cool the enthusiasm that Xi Jinping's statements had provoked.