Significant signal! Cryptocurrency fund advertisements appear on Alipay's homepage: one-click investment in Bitcoin, Coinbase, will China's ban be lifted?

Recently, a large number of users in China have been receiving promotional advertisements for cryptocurrency funds on the homepage of the Alipay app. The fund is named 'Huabao Overseas Technology C' and represents a compliant investment model for overseas assets, indirectly holding Coinbase stocks and Ark Invest's Bitcoin spot ETF. (Background: Jack Ma has been decentralized! The People's Bank of China: Alipay changes to 'no actual controller') (Additional background: China's digital yuan 'red envelope function goes live'! Can be sent through WeChat, QQ, and Alipay for shopping on Taobao) In recent years, the Chinese government has tightened regulatory policies on cryptocurrencies, halting all ICO (Initial Coin Offering) activities in the country in 2017 and shutting down domestic cryptocurrency exchanges. In 2021, it further banned cryptocurrency trading and mining altogether, making China one of the most restricted countries for cryptocurrency activities globally. Alipay's appearance of cryptocurrency fund advertisements However, recently, a large number of users in China have been receiving promotional advertisements for cryptocurrency funds on the homepage of the Alipay app, which mentions 'global investment, cryptocurrency surge, investment starting from 10 yuan, get on board immediately'. Upon clicking the advertisement, it shows that the fund is named 'Huabao Overseas Technology C', a compliant investment model for overseas assets, with the fund's largest holding being Coinbase stocks, followed by Ark Invest's Bitcoin spot ETF. Currently, there is a daily purchase limit of 1,000 yuan per person. The promotional page introduces that cryptocurrency is a digital currency based on blockchain technology, with Bitcoin being the most famous cryptocurrency. However, there are currently thousands of different cryptocurrencies on the market, each with its unique functions and uses. It also mentions that the characteristics of cryptocurrency include decentralization, high security, and anonymity. Historically, when the interest rate reduction cycle officially starts, long-term assets may perform better, especially disruptive innovation companies focusing on cryptocurrencies, space exploration, gene innovation, which are more sensitive to interest rates, benefiting during periods of declining rates. Is China about to relax the ban? We know that Alipay, as China's largest third-party payment platform, is currently one of the mainstream payment methods in China and has significant influence. Now that advertisements for cryptocurrency funds have appeared on the Alipay platform, it clearly contradicts the Chinese government's previous stance of suppressing cryptocurrencies. Therefore, this phenomenon may reflect that the Chinese government is making subtle adjustments to its cryptocurrency regulatory policies. Allowing investors to invest in overseas crypto assets through compliant channels, to some extent, actually relaxes the restrictions on cryptocurrencies, which may mean that the Chinese government is exploring a more flexible regulatory model that can control risks in the domestic cryptocurrency market while allowing some investors to participate in global crypto asset investments. From the official standpoint of China, if investors are allowed to direct funds toward related ETFs in the United States, it could lead to a significant outflow of funds directly to the U.S., making it unlikely to allow operators to promote it widely. This promotional behavior on Alipay's platform may serve as an official trial balloon regarding policy, aimed at observing public and market reactions and assessing the impact of such investments on China's financial market. Related reports After Alipay, Tencent Music also launches NFT: 'TME Digital Collectibles' will be sold on QQ Music Alipay issues NFT: emphasizes that it cannot be traded and is not a token! Ant Chain's 16,000 'Dunhuang Skins' were snapped up Heavyweight! After the central bank's interview, 'Alipay and major banks' jointly announced: a comprehensive ban on virtual currency trading 'Significant signal! Cryptocurrency fund advertisements appear on Alipay's homepage: one-click investment in Bitcoin, Coinbase, will China's ban be lifted?' This article was first published in BlockTempo (the most influential blockchain news media).