Following CZ’s Praise China’s Central Television Removes Crypto-Related Segment

China Central Television (CCTV) has recently issued a segment dedicated to cryptocurrency and its adoption in Hong Kong.

However, not even a day later, the video was removed from its online platform with no explanation about the reasoning behind such a move.

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It is worth noting that upon the initial move one of the biggest players in the crypto industry, crypto exchange Binance CEO Changpeng “CZ” Zhao commented on the news on Twitter, calling it a “big deal.”

Moreover, in his commentary, Zhao added that moments like these lead “to bull runs.”

It is worth noting that Binance appears to have some history with China and its officials. At the end of March, the news broke that Binance's top leadership went to great lengths to keep its relationship with China a secret. The company allegedly held the office in China at least until 2019. Binance initially claimed that it left the country in 2017.

It can be assumed that the reason behind the video deletion could be found in China’s ban on cryptocurrencies. The country prohibits Bitcoin mining activities and operations of crypto exchanges. However, in theory, Chinese investors are not banned from holding cryptocurrencies.

Despite China’s firm stance Hong Kong is looking in a completely different direction. The administrative region has recently announced that it is moving forward with its plans to allow retail crypto trading.

The move to delete the crypto-related video from the national broadcasting television platform may only affirm CPIC Investment Management CEO Chenggang Zhou's claims that Hong Kong's growing embrace of cryptocurrencies doesn't signify a shift in mainland China's stance on digital assets.