The cryptocurrency trading broker CryptoPoint shared some interesting news with Investing Online today. This news is about the Chinese mobile phone giant Huawei.
How Large Is Huawei?
Huawei is the second largest mobile phone manufacturer in the world. But in the recent past, Huawei came under intense scrutiny by United States government officials who claimed that the phone giant was in agreement with the Chinese government to install chips in their phones which would allow the Chinese intelligence services to spy on those who use the Huawei phones.
With the news released by CryptoPoint, one must now wonder if Huawei was truly working in conjunction with their government. After all, China has been cracking down hard on all types of cryptocurrency trading and use. They have banned all initial coin offerings (ICOs) which has closed all Chinese crypto exchanges.
But Huawei just entered in an agreement with BTC.com.
It seems Huawei will add BTC’s wallet to the App Gallery that comes pre-installed on the Huawei phones.
It seems Huawei is defying their own government.
So with this defiance, Chinese citizens can hold Bitcoin via the wallet app in their Huawei phones.
Asked about this act of defiance, Jaime Gonzalo, Vice President of Huawei Mobile said, “Crytpocurrencies have recently expanded the human understanding of digital economy at a large scale.”
What Will Washington Say?
As of yet, we have not heard any comments from the U.S. government officials who have ordered all government workers to not purchase Huawei manufactured phones.
But some would speculate that the Chinese government is allowing this action for 2 reasons:
1. To help Huawei gain trust from U.S. sources and,
2. to keep track of any and all Chinese citizens who are holding cryptocurrency.
Investing Online appreciates CryptoPoint sharing this important news with us. We will keep a close eye on developments.
Keep in mind that CryptoPoint offers investors an easy to understand platform and a great experience for trading in cryptocurrencies.