Author Topic: Will China Unbanning Crypto? (Read 1273 times)

hugeblack · « **on:** June 10, 2024, 07:27:02 PM »

Although China's official government stance remains negative towards cryptocurrencies and bans them, Bybit has allowed mainland Chinese citizens living abroad to trade abroad on its platform and users can register using Chinese identity documents.

Will we see a change in China’s policy, especially since the market now is different from what it was in 2020?

source ---> https://www.scmp.com/tech/blockchain/article/3265787/bybit-major-cryptocurrency-exchange-opens-trading-chinese-users-living-overseas

Altcoins Talks - Cryptocurrency Forum · « **on:** June 10, 2024, 07:27:02 PM »

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PX-Z · « **Reply #1 on:** June 11, 2024, 01:59:50 AM »

Knowing its China, i don't think they will try to at least change that policy as crypto friendly. They are known to have alternatives as own-made to every major technology developed in every part of the globe. And they have that kind of policy that if they don't want it, they really don't want it.

joniboini · « **Reply #2 on:** June 12, 2024, 07:11:06 AM »

So does the rumor that China will unban crypto come from this, or are there other signs that give credibility to it? I feel like saying China will unban crypto solely because an exchange wants to expand its user base is a bit of a stretch. It's not like the Chinese government will put their owner in jail just because they accept Chinese users, especially those who live overseas, considering the exchange is not based in China or close to it either. Correct me if I'm wrong since I'm not an expert on this. It's not like an exchange is free from making stupid decisions too, so if this decision bites them in the ass they can easily revert it. It's not like they know what goes inside the government head either.

Aanuoluwatofunmi · « **Reply #3 on:** June 21, 2024, 08:20:29 PM »

I don't think if there is going to be a time whereby China will change it stand or give a second thought towards considering for the use of bitcoin in cryptocurrency, they government have some strong policies that restrict anything from developing outside the context of what they make or produce within their country and this is all because they want to continually improve on their economy and make life more affordable for their citizen by encouraging for their own local economy patronage, they cant accept running a digital decentralized currency because they cant regulate it.