Crypto On LYO: The Blend — China to Upgrade National Blockchain Standards, G7 to Collaborate on Tighter Crypto Regulation, Singaporean Women ‘Outperforming’ Men in Crypto Trades

What happened in the crypto world in the last week? Let’s see some interesting news together!

China To Upgrade National Blockchain Standards By 2025

Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite the country’s stance on cryptocurrencies.

On March 28, the Ministry of Industry and Information Technology, a watchdog for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development by 2025.

The information comes from a draft of its guidelines published on the ministry’s website, which also calls for public opinion on blockchain development from “all walks of life.“

China plans to have clarification on the level of design for its blockchain and distributed ledger technology standards system by sometime this year, giving the public until April 28 to make any further input on the draft.

G7 To Collaborate on Tighter Crypto Regulation

The next G7 meeting might bring a push from the seven biggest democracies for tougher regulations on cryptocurrencies around the world, Kyoto news agency reported on March 25.

Together, leaders from Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union will outline a cooperative strategy to increase crypto transparency and enhance consumer protections, as well as address potential risks to the global financial system, officials told Kyoto. This year’s summit is set to happen in Hiroshima in May.

Cryptocurrency related issues will also be a part of the upcoming G20 meeting of financial ministers and central bank governors set to take place in Washington D.C this April, according to Kyodo.

Singaporean Women ‘Outperforming’ Men in Crypto Trades

Singaporean women are slightly more likely to make money or at least break even on their crypto investments than their male counterparts, according to a survey from cryptocurrency exchange Independent Reserve.

Published on March 28, the annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in February and polled “1,500 everyday Singapore residents on their attitudes toward cryptocurrency.”

As per the survey data, 76% of women reported either making money or breaking even on their crypto investments, compared to just 72% of men.

“Since the launch of IRCI in Singapore in 2021, this is the first time that females have reported outperforming their male counterparts,” the survey results read.

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