--- title: "China Is Obsessed With Facebook’s Cryptocurrency" description: "According to Google Trends data, people in China are obsessed with Facebook's recently announced cryptocurrency called Libra." date: "2019-07-18" modified: "2019-07-18" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/china-trends-facebook-cryptocurrency" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "china" - "cryptocurrencies" - "facebook" - "libra" - "the digest" --- # China Is Obsessed With Facebook’s Cryptocurrency ![]() *\Image: Victor Tangermann\* ## Peaked Interest People in China are obsessed with Facebook's recently announced cryptocurrency, Libra — which is striking, because both Facebook and cryptocurrency are banned in China. As [*Coindesk* reports](), search trends for "Libra" soared — even a full month after Facebook's announcement — on China's biggest web platform Weibo. It currently ranks as the number one nation in the world for "Facebook Libra" on Google Trends — seemingly outstripping interest in the United States. Facebook [revealed its plans]() for Libra in June. It’s a huge step for blockchain visibility, because Facebook is by far the biggest online network of people in the world. ## Quashing Cryptos China's government has tried its best to quash the cryptocurrency market in recent years "to prevent financial risks," according to the [Chinese media](). But its attempts have [often failed]() at stopping all cryptocurrency trade. Facebook and Google are also currently banned in the country — meaning these trend results should be taken with a grain of salt. But plenty of people in China have found ways around the government's blocks using virtual private networks (VPNs) and other proxies. The news comes after Facebook is facing bipartisan scrutiny from U.S. lawmakers for announcing Libra. Some are arguing it could be [Facebook's downfall](). President Donald Trump also [added to the chorus]() by noting that cryptocurrencies are "not money" and "based on thin air." **READ MORE:** [Web Search Data Indicates Soaring Interest for Facebook Libra in China]() \[*Coindesk*\] **More on the Libra:** *[Fintech Expert: Libra Could Be Facebook's Downfall]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()