Why did the Chinese government crack down on digital currencies before and now allow Hong Kong to open a Bitcoin ETF?

Hong Kong currently has three institutions that have opened EFT audits for Bitcoin and Ethereum, and will soon be able to start trading and direct purchases. Why did the Chinese government previously order a ban or even crackdown on digital currencies, and why is it now allowing Hong Kong to open an ETF?

Because of BlackRock, many brothers don’t know about this institution. BlackRock manages nearly $10 trillion in assets and is the big brother among the three giants on Wall Street. It is truly rich enough to rival a country. After the outbreak of the financial crisis in 2008, the US economy was on the verge of collapse. The Aladdin risk management system developed by the company helped the United States through the financial crisis. Since then, BlackRock’s asset management capabilities have been recognized by the entire Wall Street.

In addition, 93% of the US retirement fund plans are also managed by BlackRock. With the foundation of the Aladdin system, BlackRock later not only developed the backend of the Federal Reserve, but also developed a super risk control system that can monitor 10% of the world’s financial assets. The top ten insurance companies in the world, Japan’s official pension fund, and technology giants such as Apple, Microsoft and Google all rely on this system for financial management.

Goldman Sachs is a training class for the U.S. Treasury Secretary, because all the former U.S. Treasury Secretaries have basically been trained at Goldman Sachs. BlackRock not only has dozens of former employees in the U.S. Treasury, but also turned the former chief of staff, assistant secretary of state, senior executives of the Federal Reserve, and analysts of the CIA into its own employees for its own use! To put it bluntly, BlackRock is the Fed's white glove. Such a giant asset management company applies for Bitcoin's ETF, the purpose is to take a fancy to this piece of cake. He either does not do it, or he is the first to prepare to be the banker himself, and our country cannot lag behind. He must copy and add his own rules, and he must also have a place in this market and have a voice and decision-making power! Hong Kong is a window to the world. It will do a pilot first. If it goes well, it will be vigorously promoted. If it doesn't go well, it will cancel the test. There will be no loss to everyone. The first and second largest countries have passed the Bitcoin ETF review. More countries will follow suit to take over for everyone, so don't panic. Every decline is an opportunity for everyone to get on the bus. If you are afraid, you will lose.