China's Strategy Shift: Is Bitcoin's Ban Coming to an End?
by aria-crypto.com
December 28, 2024 at 00:05
China's Strategy Shift: Is Bitcoin's Ban Coming to an End?
Look, it seems inevitable that China might lift its Bitcoin ban soon, given the explosive global momentum of Bitcoin and increasing interest from major political figures. Despite the 2021 trading and mining ban, signs point towards a strategic shift as Chinese influence in Bitcoin can hardly be understated. Notable global leaders, including US President-Elect Donald Trump and Fed Chair Jerome Powell, have recently endorsed Bitcoin, hinting at its critical role in future financial systems. Moreover, countries like China prefer working behind the scenes, subtly hinting through activities in Hong Kong such as approving crypto ETFs and easing crypto regulations for institutions. These developments suggest a potential pilot testing before mainland implementation. Former Binance CEO CZ also highlighted that China, unlike the US, tends to make policy changes quietly, indicating that any significant move on Bitcoin will likely be unannounced. Observing Hong Kong's progressive stance on crypto, it can be deduced that China is preparing for a grand reentry into the crypto market to not only compete but potentially lead. If these signals hold true, we might hear official news soon, perhaps as early as next year.
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