NEO, one of China’s most prominent blockchain projects, has been on a roll since Chinese President Xi Jinping announced that his country would “take the leading position in the emerging field of blockchain.”
Since then, this cryptocurrency skyrocketed nearly 100%, and now it is signaling a further upward advance. On Oct. 25, the Chinese government vowed to put the nation at the forefront of blockchain technology. Several agencies under the control of President Xi’s administration immediately began putting that plan into practice.
The National Development and Reform Commission (NDRC), for instance, published an updated version of guidelines that define “virtual currency mining” and take it off a list of banned commercial activities.