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After a bitcoin crackdown, China now calls it an ‘investment alternative’ in a significant shift in tone

After a bitcoin crackdown, China now calls it an ‘investment alternative’ in a significant shift in tone



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22 Comments

  1. There CCP is definitely accumulating vast amount of crypto while banning everyone in China to do it. And along with the “digital” currency they are pushing hard, it’s very likely they see it as an opportunity to shake USD’s status.

  2. tldr; China’s central bank is now calling bitcoin an “investment alternative” after a crackdown on cryptocurrency issuance and trading nearly four years ago. “We regard Bitcoin and stablecoin as crypto assets…These are investment alternatives,” said Li Bo, deputy governor of the People’s Bank of China (PBOC). China was once one of the world’s largest buyers of bitcoin.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. I think when even China starts backtracking, it’s probably a good sign that Crypto is too big to fail and now it’s a matter of *joining* it rather than destroying it.

  4. Its funny, in the end they will move faster than all the “great” western countries.

    And I am really curious how it will affect projects which have “chinese roots” like VeChain and NEO.

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