China’s Crypto Confusion: Bitcoin Ban Under Review Amid U.S. Pressure
China is reportedly reconsidering its stance on Bitcoin, with the U.S.’s pro-crypto approach under Donald Trump’s influence serving as a potential catalyst.
China, which holds approximately 190,000 BTC through past seizures, is rethinking its strategy to remain relevant in the global financial arena. Analysts suggest this pivot might be shaped by geopolitical competition, as the U.S. continues to embrace cryptocurrency innovation and regulation.
While Hong Kong has softened its crypto policies to bolster its fintech edge, mainland China has yet to lift its bans on crypto trading and mining. Experts speculate that regulatory clarity and competitive pressures may eventually drive a more open approach in China, though significant policy changes could take years
Clever Robot News Desk 24th November 2024
