Bitcoin Forum

Op-Ed: What Does China’s Crypto-Future Look Like Post-ICO Ban?

The price of Bitcoin has been regaining its footing after China’s clampdown on ICOs and exchanges. This is not the first time China has tried to stifle cryptocurrencies for fear that they can be effective means for citizens to keep their capital safe in unfavorable economic conditions, out of reach of authorities. China may attempt to nationalize the local crypto industry, and could issue digital Chinese Yuan tokens to act as the new reserve currency on newer, more-highly regulated exchanges—platforms where tokens created via state-sanctioned platforms using the new denomination could be traded. The regulations could drive innovation for Chinese fiat gateways running through decentralized exchanges, which may become the only means for investors to swap their tokens. The ruling may also push users into more anonymous cryptocurrencies that do not leave a digital footprint.

Read the full story  -  https://dcebrief.com/what-does-chinas-crypto-future-look-like-post-ico-ban/

Lately, there has been a lot of information that the Chinese government is looking to replace the existing decentralized currency for its circulation inside the country. Alternatively, they even called Bitcoin Cash and NEO, which could be used for this purpose, if these altoquines could be centralized for China. It is also possible that China will issue its centralized crypto currency. We'll see what comes out of this in the future.