Polkadot (+20%) And VeChain (+15%) Soar As McDonalds China Ignores Local Crypto Ban

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Last Updated on 14 October 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin is trading at $57k in the early hours of Friday morning while Polkadot and VeChain soared up by double digit percentages. Global media reported that Bitcoin mining in China has recently fallen to a near zero percentage worldwide while the US has taken over as the global leader.

Over in Beijing, the local McDonalds has clearly ignored the crypto installed installed by the country’s government though.

Advertentie.

Ignoring ban

China is ruled under a communist regime whilst enjoying an economic marketplace that is basically working along the lines of liberal capitalism. If you want more proof of that fact, then all you need to do is check the latest offering by McDonalds Beijing.

In order to celebrate the 31 years that it’s been operating in China, the local McDonalds franchise is offering NFTs to loyal (and lucky) customers. NFTs as you know are Non Fungible Tokens and a very popular part of the cryptosphere.

Ethereum mining pool

The only weird thing about this launch is that the People’s Bank of China (PBoC) has officially banned all cryptocurrency-related activity since a month ago and that Chinese authorities have tightened the screw on crypto-assets very strongly.

In fact, they’ve tightened the screws on crypto activity so much that some of Ethereum’s biggest mining pools have had to announce their closure and Bitcoin mining material is being shipped overseas (mostly to Texas, USA).

In this more than inhospitable environment, McDonald’s China announced that it would offer an NFT called “Big Mac Rubik’s Cube” to its Chinese customers, as well as some of its employees.

More precisely 188 NFT in the form of hamburgers / rubik’s cubes that will be distributed. I’m going to guess the local McDonalds management forgot about the crypto ban.

fxquadro / Depositphotos.com