Why doesn't the Chinese area take the initiative to establish a fully compliant virtual currency exchange?
How difficult is the compliance road for virtual currency exchanges?
In fact, the Chinese area is not incapable of establishing a fully compliant virtual currency exchange. Technically speaking, through KYC certification, independent custody, independent settlement and independent trading, problems such as anonymization and exchange running away can be effectively solved.
At the same time, by binding personal foreign exchange quotas, the compliant flow of funds can be achieved, and transaction income tax can be obtained from it, blocking the black and gray production channels. But the reality is that the development of the Chinese area in the field of virtual currency has lagged far behind that of the United States.
Once, we had the top three exchanges in the world and the largest group of Bitcoin holders, but now, mining has disappeared, exchanges have left, and transactions are even treated as crimes. The SEC has approved the BTC ETF, which means that BTC has entered the global capital market as a formal asset. We have lost the only opportunity to lead the United States in the financial field, which is undoubtedly a huge regret.
Faced with such a situation, we should no longer hesitate and wait and see. Establishing a fully compliant virtual currency exchange is not only in line with the financial power plan proposed by the Central Economic Conference, but also a key step to stimulate the vitality of domestic funds and seize the commanding heights in the future financial field!
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