Crypto

Chinese Blockchain Firm Gets Blacklisted for Exporting Problematic Coronavirus Face Masks

Many blockchain firms and projects try to gain relevance during the coronavirus crisis. One blockchain firm in China can no longer sell medical supplies by order of the government.

Companies are scrambling to play their part during the coronavirus pandemic.

Blockchain Firm in China Gets Blacklisted

That is often much easier said than done, however.

Blockchain firms usually become of relevance due to their technical expertise and infrastructure.

For Tus Data Asset in Beijing, that situation is a bit different.

The company has gotten on the radar of the Chinese Ministry of Commerce.

Allegedly, the company is now blacklisted for exporting problematic masks used to fight the spreading of the coronavirus.

Related Post

It is also the first blockchain tech firm to face this situation in China.

Based on how things are going, it may not be the last either.

Globally, there have been numerous batches involving faulty face masks, most of which originate out of China.

Whether or not other blockchain firms in the country partake in the production of these items, remains somewhat unclear.

Considering how China wants to go all-in on blockchain, developments like this are very problematic.

That also explains why Tus Data Asset has been officially blacklisted.

It is unclear if that decisions may be overturned in the future, albeit that seems rather unlikely. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Solana’s $3.2M Entrepreneur Story & BlockDAG’s $1 Potential

How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…

3 hours ago

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

8 hours ago

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

10 hours ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

10 hours ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

10 hours ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

13 hours ago