Will China Lift Bitcoin Ban: 4 Billion Dollar Tax Debate!

Hong Kong's experienced name focused on the consequences of China's Bitcoin (BTC) mining ban.

Wang Yang, Vice President of Hong Kong University of Science and Technology, said that China's ban on cryptocurrency mining is not very wise.

Wang Yang noted that this ban caused miners to move to the United States and earned the United States more than $4 billion in tax revenue.

In contrast, the cryptocurrency supporter emphasized that if Donald Trump is re-elected, China should reconsider its attitude towards this sector.

China started to impose various bans on Bitcoin miners since 2019, and miners in the country migrated to countries such as the USA, Kazakhstan, and the Republic of South Africa.

While this migration has shaken many balances, it remains unknown whether China, which has recently experimented with cryptocurrency through Hong Kong, will reopen its doors to this sector.