Chinas Cryptocurrency Control: Will US Crackdown Enable It?

By Lola Coin Jun 28, 202386Views

, , , ,

Asian nations, particularly China, are capitalizing on America’s crackdown on the crypto industry to establish dominance in digital finance. Despite China’s overall anti-crypto stance, it has multiple avenues to become a leader in the space. Through its special administrative region, Hong Kong, China is working on its own blockchain networks and central bank digital currencies, giving the state unprecedented control over digital finance. Hong Kong also serves as a niche market for digital assets, competing with other free-market financial hubs. Additionally, regulators in Hong Kong are pressuring banks to provide services to crypto exchanges, unlike in the US and UK where banks sever ties with such customers. Japan, Singapore, and other Asian nations are also vying to become crypto hubs.

Continue reading on Beincrypto.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.