The crypto community is abuzz with a tantalizing rumor: As noted, it might mean that China is on the process of unblocking Bitcoin and cryptocurrencies by the end of this year. 🤯
If so, that would be quite a revolution, following the similar recent trend in Russia's change of regulation. It would cause quite a shake-up and, possibly, give a hitherto unnoticed population group a shape for proponents of cryptocurrencies and their investors.
But what could force China to start a new chapter in this book and cease maintaining a trade surplus? What is the reason? Is it the gradual awareness of their potential to increase innovation and therefore the economy's growth rate? Or perhaps it is from the need to sustain their standing in the international battle over fintech markets?
Expectation is up to the point of affirmation; before that, it is infinite. Revanching to the Chinese markets could inflate the prices, fund up the investments, and put an imprimatur on the developments.
If true, it will be an enormous step forward for the crypto industry. Policymaking actions continue to pose a major risk after China shut down operations for cryptos in 2021 and conducted what amounted to the murder of the global trading volume and activity rate, making up a third of the global figure. Cautious shifts in this factor would be a turn-on to crypto regulation by China.
Some potential implications:
Institutional and retail adoption of one of the largest economies in the world, China's Liquidity, and the turnover of Assets have also escalated globally.
The hope that CHB/OcboZAR-based cryptocurrencies and exchanges will operate once again is the chance of a different and perhaps improved interaction between China and world cryptocurrencies
Of course, it is still just a rumour at the moment However, there is a good deal of logic in it. We could really only be sure if we could 'get our hands on' some policies being practiced and some statements from the Chinese authorities. Their arguments contain the following key points: Even the type of the particular business is vague, and the details of the particular legal regime remain rather unclear.
For the next few months, a person might wish to focus on official statements, views in the sphere, and comments within the field. Any information in this regard or any denial of such a rumour would be relevant to follow next.
However, the old cliché of let the buyer beware still holds true, so it is advised that everyone should do his or her homework and seek the help of a professional before putting his or her money down.
We can wait for now and see whether this rumor is true or not. If you have any more questions or anything additional, please leave a comment.
