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China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown

China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown



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  1. tldr; The People’s Bank of China (PBoC) deputy governor Li Bo has called Bitcoin and stablecoin “crypto-assets” for the first time since the Chinese government’s crypto crackdown four years ago. However, he clarified that the PBoC would keep its regulatory framework on cryptos unchanged.

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

  2. I do not understand why the powers that be would allow decentralized currency. They might find a way to regulate it like they did with gold when bitcoin becomes a threat. I read that a supercomputer could potentially crack bitcoin in the future. China’s economy is soon to surpass the USA. China has also introduced the digital yuan. China may want their currency to replace the greenback so it makes sense for them to create such a supercomputer.

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