China has announced plans to build a national blockchain network as part of its economic modernization strategy, aiming to improve connectivity between businesses and data systems. However, the government maintains strict regulations banning cryptocurrencies like Bitcoin, Ethereum, and Tether from financial activities, emphasizing control over financial systems. The blockchain project focuses on permissioned networks for industrial and administrative use, not public cryptocurrencies. This means Bitcoin will not benefit directly from the initiative unless future regulatory changes occur.
China's national blockchain network plans provide context for cryptocurrency markets. For readers following crypto, here is Pluang's market snapshot as of Oct 12, 2026 17:41 WIB: 37 of 50 major cryptocurrencies rose today. ONE (Harmony) fell 4.83% to Rp35, ZIL (Zilliqa) rose 4.45% to Rp66, and COTI gained 3.94% to Rp243. Typical hold times range from 121 to 152 days, with varying buy-sell order activity.
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