China dey push make dem share tax data for blockchain to expand credit for small businesses

China tax an financial regulators don tell banks make dem modernize "bank–tax interaction" by using blockchain-based tax data sharing. For one joint policy notice, State Administration of Taxation and National Financial Regulatory Administration tell institutions make dem standardize how dem dey exchange tax data so information no go hide between tax authorities, banks and companies. Regulators still call for better credit models, faster approvals and more financing for "honest, tax-paying enterprises." This one match National Development and Reform Commission roadmap weh wan join blockchain into national data infrastructure, target rollout across the country by 2029 and dem estimate about 400 billion yuan (around $58 billion) yearly investment opportunities. For crypto traders, main point be say blockchain tax data sharing na policy move for regulated finance, no be sign say dem dey liberalize crypto. China still tight: the 2021 nationwide ban cover crypto transactions and mining. Recently regulators don expand framework to include stablecoins and tokenised real-world assets, require prior approval for RMB-pegged stablecoin issuance and warn say unlicensed tokenisation fit be treated as illegal financial operations. Overall, this one dey support blockchain-in-regulated-finance story more than e go push crypto asset prices up quick.