Bitcoin Rises In New Crypto Rankings By Chinese Government-Backed Institute

Bitcoin rises in new crypto rankings by Chinese government-backed institute. Under China’s Ministry of Industry and Information Technology, the Center for Information and Industry Development (CCID) published its 18th report of crypto project rankings Thursday.

In the 18th ranking, BTC improved marginally from the April revision overall, rising from the 14th position to the 12th position. BCH dropped marginally from the 31st place to the 34th spot. EOS, Tron and ETH, meanwhile, continue to top the overall rankings.

According to blockchain data firm Longhash, there are currently 83,199 registered blockchain companies in China, 29,053 of which are still in operation while 59,339 companies have had their legal status or license revoked.

As for cryptocurrencies, several Chinese courts have ruled that bitcoin and ethereum are legal property, protected by Chinese law. In May, China’s top legislature passed the civil code that protects crypto inheritance.

[image: Lonely Planet

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