Actions speak: China’s crypto ban may reveal digital yuan CBDC goals

[newshunter]

Actions speak: China’s crypto ban may reveal digital yuan CBDC goals

China’s ban on cryptocurrencies causes a mild slump, but recovering from this FUD is not new for crypto as China’s motives come under the scanner.

Source: Actions speak: China’s crypto ban may reveal digital yuan CBDC goals

Would appreciate your opinion about this

[TomPluz]

I always believe that the fast the crypto industry can get out of China, the better it would be for all of its stakeholders. We don't need China in the same way China does not need us. Big and successful companies now like Facebook and Google were and are still banned in China so what is we have to worry about? Nothing, actually. Soon, the China market can be taken over by the opening of India, hope that it can come soon.

[Fenix]

The closer the deadline for the official announcement of the launch of its digitized yuan in China, the tougher the attitude of the Chinese authorities towards cryptocurrency becomes. This indicates that the Chinese government sees decentralized cryptocurrency, if not a direct threat, then worthy competition for its stablecoin.
However, cryptocurrency continues to evolve with or without China. The digitized yuan is only a means of payment, and cryptocurrency provides people with much greater opportunities. Therefore, it will be interesting to observe what will come of this next prohibition. Judging by the fact that the cryptocurrency quickly recovered after such a ban, it is not something significant for the cryptocurrency market.