China Promotes DeFi and Ethereum on CCTV, But Isnࢀ™t Crypto Banned?

China has appeared to be hostile territory for cryptocurrency since it officially shuttered all crypto exchanges in the country in 2017. But if that is the case, why did Chinese state media run a segment promoting cryptos, Ethereum and DeFi over the weekend? Since Chinaࢀ™s cryptocurrency exchange ban, which was announced in September 2017, and made it illegal for Chinese mainlanders to exchange digital currencyࢀ"there has been a general consensus that China was making way for its own government-controlled central bank digital currency (CBDC) or DCEP. However, a segment that aired on China state television over the weekend may be…