China to Publish Crypto Ratings Index

China to Publish Crypto Ratings Index

The Chinese Ministry of Industry and Information Technology has announced that it is all set for publishing a public rating index for 28 cryptocurrencies in the crypto market.

China’s announcement comes as quite a surprise given all of the restrictions which the country has put on the crypto market. Towards the end of 2017, all of the exchanges which were operating in the country were forced to close doors—in an effort to stop domestic trading on cryptocurrencies. The country had also imposed a complete ban on initial coin offerings (ICO).

The cryptocurrencies confirmed to be a part of the cryptocurrency rating index, as per the information made available by China Center for Information Industry Development, are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Stellar (XLM)
  • NEO (NEO)
  • Monero (XMR)
  • Dash (DASH)
  • NEM (XEM)
  • Ethereum Classic (ETC)
  • Lisk (LSK)
  • Quantum (QAU)
  • Nano (NANO)
  • Verge (XVG)
  • Zcash (ZEC)
  • Stratis (STRAT)
  • Decred (DCR)
  • Komodo (KMD)
  • Ark (ARK)

The country is also said to have been working on a national standard for blockchain technology which it intends to implement before 2019 ends.

Earlier, there had been news about a preliminary cooperation intention between FormulA and the Chinese Academy of Sciences (CAS) to establish a blockchain joint laboratory. About the project, Stephen Song, an Asia Pacific partner of the FormulA Foundation, said:

“FormulA will continue to focus on the business module of registration of real assets on-chain, and we are always overjoyed to cooperate with a national technical team like the Chinese Academy of Sciences. This not only represents the high quality attribute of our project, but also will help us to establish a boarder blockchain ecology…This laboratory will become the first national blockchain project relating to on-chain assets and asset transactions, and in the meantime, the technical team will provide the most favorable technical support for the FormulA project. Therefore the asset on-chain ecology is expected to be established based on the project.”

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.