New Cryptocurrency Move From China! Taking a Step Back in the Prohibition?

Bitcoin (BTC) and the Chinese government, which introduced a general ban on cryptocurrencies, seems to be starting to soften in this ban.

According to the news of China’s local media outlet 36Kr, state-sponsored CPIC Investment Managementtwo in Hong Kong cryptocurrency preparing to launch the fund.

This crypto funds investment firm of CPIC Investment Management Waterdrip Capital It is stated that it will be released jointly with

Backed by the Chinese government, CPI is the second largest property insurance company in China after China People’s Insurance Company.

Funds to be released “Pacific Waterdrip Digital Asset Fund I” And “Pacific Waterdrip Digital Asset Fund II” was named.

It was stated that the first of these funds aims to offer investors more diverse and innovative investment options, while the second fund will manage digital assets using the PoS system.

It was stated that both funds will target institutional investors and wealthy private investors.

Partnering with CPI in crypto funds, Waterdrip confirmed the news of the partnership that both crypto funds Hong Kong He said he was in line with his government’s digital asset policy.

“This collaboration on cryptocurrency funds aims to provide investors with digital asset products that are legally compliant and focused on risk control, and combine the expertise of the two institutions to enable investors to reap benefits in the crypto markets.”