China bans trading in cryptocurrencies, but is now ranking them
The first government in the world to provide ratings on cryptocoins is one that has banned its people from using it few months back.The ratings, which rank an initial deck of 28 cryptocoins by three criteria – technology, application and innovation – come courtesy of what Beijing referred to as “domestic experts” earlier this month.The project is under the control of the Ministry of Industry and Information Technology’s China Electronic Information Industry Development department (CCID).
The Chinese Information Technology Development Center (CCID), a research unit within the country's ministry of industry, has officially launched its monthly rating index (Chinese Link) of 28 crypto-currencies and block chain behind them. CCID said the index is based on three criteria, technology, application, and innovation, but has not published its methodology. Ethereum is the first ranked Cryptocoin in its first reviews, while bitcoin placed 13th.
But the biggest question is how much this ranking index effect on the whole market of crypto-currencies.
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