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FX168 Financial News Agency (Asia Pacific) reported that many foreign media and crypto communities quoted experts' predictions that China is expected to revoke the ban on Bitcoin and cryptocurrencies within three months. China previously banned cryptocurrencies due to financial risks and environmental issues, but the ban may be lifted due to Hong Kong's approval of the Bitcoin ETF. Ben Charoenwong, a scholar at the National University of Singapore, said that capital flows have gone beyond control.
Cryptocurrency media CoinPedia and well-known crypto community BitcoinLFG revealed that China, which is known for its tough stance on cryptocurrencies, seems to be reconsidering its ban on Bitcoin soon. The news coincided with Hong Kong's major step in accepting Bitcoin, including the approval of a Bitcoin spot ETF.
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