The People's Daily newspaper of the Chinese Communist Party urged investors not to regard the Beijing authorities' support for blockchain technology as an endorsement of cryptocurrencies. It is reported by Reuters .

The publication is related to the speech of President of China Xi Jinping, who last week announced the need to develop blockchain technology.

In its appeal, the publication asked traders to remain rational.

“The blockchain has a future, but we must remain rational. The rise of blockchain technology was accompanied by the same phenomenon among cryptocurrencies, but innovation in the field of blockchain does not mean that we should speculate on virtual currencies, ”the statement said.

It also became known that the Shanghai Stock Exchange sent notifications to traders working with Chinese brokers asking them not to create a stir around this topic.

“The companies represented on our trading platform that are associated with the blockchain, we ask you to make statements based on facts and not to exaggerate, as well as not to create malicious excitement,” the letter says.

Recall that since 2017, China has been banned from trading with cryptocurrencies . Xi Jinping's speech does not imply changes to this restriction.

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