• Despite the crackdown, some Chinese cryptocurrency companies are still hiring

  • According to reports from China, several domestic crypto-related enterprises are still hiring new employees, indicating that the country’s most recent crypto crackdown may not be as effective as first anticipated. A number of companies in places such as Beijing, Shanghai, and Chengdu are still offering jobs that look to be crypto-related on key sites such as Baidu’s jobs section.

    Some of the posts date from this past weekend (July 10-11), while others date from late last week – well after the current crackdown began. A screenshot revealed that one Hong Kong-based firm was looking for a “head of digital currency exchange operations.” Another advertised a position as a “digital assets dealer,” while yet another promoted a position as a crypto mining engineer. Another was looking for a “digital products” “market trading platform” expert.

    Furthermore, some of the positions were still paying well, with one paying up to USD 24,700 per month for more experienced workers.

    The majority of the businesses appeared to be start-ups, while others may have more significant investors.

    Beijing Coin World Network Technology (literal translation) was advertising various job openings for its Beijing and Chengdu offices. The company was created in 2017, and the same news outlet said that Huobi, the world’s largest cryptocurrency exchange, had invested in it.

    Despite the fact that none of the job advertising specifically mentioned crypto assets, the media source observed that the roles are all “closely tied to the [crypto] industry,” and that many other organizations were attempting to cover their bases by claiming to be “blockchain”-related.

    A handful of crypto-related smartphone apps were still available for download on big app marketplaces, according to the report’s author.

    Crypto aficionados who spoke on the condition of anonymity told the publication that they were still willing to “wait and watch” what would happen if laws were implemented. Until now, the majority of anti-mining measures have been carried out by local governments seeking to satisfy the central government, rather than by Beijing-based government agencies.

    According to one source:

    “There is yet a ray of hope. We may be obliged to take a hiatus if future efforts take the shape of a crackdown on [crypto media and PR] and service organizations associated with crypto assets.”

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