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Many similar questions are being asked about China after rumors of a blockchain is being backed by Beijing. There are some people who say that it is Conflux, however, there is a blockchain developed by Beijing academy of blockchain called Chain Maker, where government controlled businesses like Tencent and China Construction are also supporting the project.

NFTs are also being supported by the government in Shanghai through approvals of the creation of NFT trading platforms.

However, everything begins in Hong Kong, where their government has allowed all users to buy and sell crypto. If mainland China follows, it might bring the cryptospace back to the bull markets that are more similar to 2017. The pumps during those bull market years with China were bigger and higher.

Another argument on why China might become the leader in the cryptospace is because the American government has been imposing regulations without clarity that causes many developers confused and leave or stop working for projects based in America.

At the moment it is is using HK for all cryptocurrency related activities. It has a simple strategy in my opinion. It is utilizing the benefits of US crack down on cryptocurrency through HK and safeguarding it's mainland retail investors. All major companies from the US have either moved or are under the process of moving to HK. Through HK it will start controlling the cryptocurrency market. I am sure it will make HK a global hub for all cryptocurrency businesses.

I am surprised that China is the one that seems friendly to Crypto and blockchain industry rather than USA, but the thing is that with China they want full control, and I don't see how they will allow Crypto to go full speed without government intervention which is against everything crypto is all about. The Honk Kong move is a step in the right direction because the HK is the gate way to mainland China, and I won't be surprised if we see HK exchanges driving the volume in the coming bull market.

Before the previous China attack on cryptocurrency, China was the location where most crypto miners reside and seem to be the most cryptocurrency-friendly country then, up until there began a crackdown in the early time.
But now that China has begun to make moves to accommodate cryptocurrency again it may have an underlying effect on cryptocurrency activities such as excessive control and centralization which I think was the main reason why China push off crypto in the first place.

China has always supported the introduction of blockchain technology into its economy, but has a negative attitude towards cryptocurrency. At the same time, Hong Kong has grown economically thanks to the introduction of advanced technologies in science and technology. Therefore, they also have a positive attitude towards cryptocurrencies, because many there register their enterprises to engage in entrepreneurial activities using cryptocurrencies, and this is beneficial to the Hong Kong economy. However, it is not yet clear how this will be reacted to in the future in mainland China. There, as always, they are not in a hurry with their assessments. But I don’t think that China will support the circulation of cryptocurrencies.

I think not just China, but China and America, they are the big two horse that have huge influence on the cryptospace for some time now, So i think the two adapting it will make massive impact than one, though America is clapping down on crypto companies but let's hope the next America president will support crypto

I hope you update this thread and include the link this is an interesting development because when China is involve they can make a huge impact in the market.

Hongkong has always been the testing ground for China so they are likely to follow Hongkong's lead if it becomes successful they might lift the ban and encourage trading of Cryptocurrency again, China's contribution to the industry is huge and China's participation will lead to our much-awaited bull trend.

I hope we see the day that both countries support Cryptocurrency and take out a lot of restrictions Cryptocurrency is already more than a decade and it will not die with their imposed restriction because of the technology that fits our modern generation.

If China starts ambitious in the world of Crypto like in the past 2017 strong support for the Crypto Fan Altcoin project will be extraordinary. It's just that the Chinese drama that I remember was always made news about the prohibition of Crypto last year had a big impact on the Crypto market. but it doesn't make sense in my opinion because the largest Bitcoin holder of China

Bull market can get triggered by a rumor but i can't understand why people tend to see china as a huge player in it. Sure they have lots of people but it's notoriously authoritarian regime. They allow it as long it doesn't start to be a shadow banking system, and also people are afraid how west wants to end privacy and regulate cryptos, you might want to take a look what china has done to privacy. Mass surveillance next level and make snowden leaks look like kids stuff.

So if you people think that china of all places would allow it cryptos and their permissionless ideology, you have maybe take 2 steps back and see what (https://www.dw.com/en/western-countries-are-banning-chinese-tech-why-is-it-still-spreading/a-65106709) they (https://www.cbsnews.com/news/chinas-buildup-of-the-surveillance-state-intelligence-matters/) are (https://www.youtube.com/watch?v=Oo_FM3mjBCY) doing (https://en.wikipedia.org/wiki/Mass_surveillance_in_China)
China is not even trying to hide their surveillance, because they know no one can do anything about it. Ccp doesn't ask for public approval or permissions.

I understand that trading allowed in china is good for volume and liquidity but that's all i can see it affecting. And remember that they are allowing trading of few cryptocurrencies in controlled cexes, so i don't see this as bullish for permissionless ideology of cryptos.

China can't just see and get calm when seeing other countries adopting cryptocurrencies. They'll think before that closing their door from crypto helps them a lot and making their own digital currency is in demand. They'll overthink the impact of such action and now, they're getting back to get in touch and wanted to bring back blockchain on their territory and later own, they've thrown it again.

Though we can say there us a huge impact of their leaving crypto but we're not sure about this time. If it helps to increase demand and price, then much better but still, we don't have to expect much from it.

I hardly doubt it. Blockchain in of itself isn't really limited to crypto, so them starting development about it wouldn't really bring any big changes imo (though some waves may be created but that's about it). Plus, wasn't there already talks about China doing blockchain research a few years back already? It being said again once more doesn't mean anything at this point imo. China opening up crypto again might bring some changes but it should be temporary impacts. Though it still remains that China's main identity is of surveillance, so I hardly doubt "decentralization" itself would grow from there.

As for them being the lead since America's being, well, America, I doubt it. In the first place, I don't think there's any need to tie developments to a country? It is cryptocurrency after all.

Okay, I will try hehe. However, do not expect pumps on the Chinese projects immediately. What we should be doing is be the first to know the updates on which Chinese projects are going to be whitelisted in Hong Kong and mainland China.

According to some people in social media, Hong Kong's regulatory guideline might start with allowing projects with proven track records before it whitelists newer, riskier projects. It might also not yet allow leverage and stablecoins.

The question of whether China will emerge as a leader in blockchain and trigger a new bull market is a topic of speculation and discussion. My view is that what needs to be considered is the impact of regulatory actions by the US government, which creates uncertainty for developers. This situation may encourage some developers to seek alternative jurisdictions or hinder the growth of US-based projects.

It is hard to say or predict the future of the blockchain market. The Chinese government has been supportive of blockchain technology and has invested heavily in its development. Many Chinese companies have been actively exploring blockchain use cases and developing blockchain based solutions. Blockchain is a global market and there are many other countries and companies that are also making significant contributions to its growth and development. Blockchain is relatively new technology and there are many challenges that is need to be overcome before it can reach its full potential. China may play an important role in the future of blockchain, maybe the can start a new bull market no one can predict.

Of course China will be top one in terms of investors and mass adoption, because in China it has legalized crypto currency,
and is a breath of fresh air for the crypto market, but indeed this requires stages and is indirect,
because we are still in the bearish season so what we have to do is be patient and wait until bullish arrives.

After banning mining & also banning retail investors buying bitcoin, China is recently relaxing rules around bitcoin & a small select group of alts. Retail investors in Hong Kong can now buy bitcoin & a small group of altcoins. I don’t know if or when this opportunity will open up to the rest of China but already they have changed their stance.

As recently as yesterday the SEC in the US started proceedings against Binance US. They seem to be making things hard for the crypto industry in America. China could be more than willing to open their doors to accommodate if the US closes their doors..  

If I see trend and growth crypto in China. I say yes. China has potential to become a leader in the cryptospace, and there are some reasons. There are rumors of a blockchain being backed by Beijing, and the Chinese government has shown interest in supporting NFT trading platforms. If the government continues to support and invest in the development of blockchain technology, it could propel China to the forefront of the cryptospace. In other side, for American government's unclear regulations have caused confusion among developers, leading some to stop working on US-based projects. This could give China an opportunity to attract talent and become a more attractive hub for crypto development.

It appears that Conflux's development team is placing themselves to be near the people who might be influencial on creating the whitelisting process in Hong Kong. I would also speculate that the whiltelisted projects in Hong Kong might also be the first projects to be whitelisted in Shanghai once mainland China decides to open their country for the cryptospace again.



Further solidifying our growing partnership with Web3 advancements in Hong Kong, Conflux is pleased to announce that it has become a senior member of the Institute of Web 3.0 in Hong Kong.

As the only regulatory-compliant public blockchain in China, Conflux holds a unique advantage for projects seeking to build and expand into Asia. Therefore, our decision to join the Hong Kong Web 3.0 Institute as a senior member aligns perfectly with our initiatives. We are honored and enthusiastic about collaborating with other industry players in the Web3 space and actively demonstrating our support for Web3 development in Hong Kong.

The Institute will be led by Norman Chan, the former Head of the Hong Kong Monetary Authority (HKMA). Li Feng, CEO of China Mobile International, will serve as the Honorary Chairperson. Chan’s extensive experience in traditional finance during his tenure at the HKMA will contribute to establishing a standardized framework for digital currencies within the new Institute.

Source https://confluxnetwork.medium.com/conflux-joins-hong-kongs-new-web3-institute-2e14b8bb648

First of all, NFT is not cryptocurrency. It's just a very simple use case of blockchain and will die down sooner than you expect.

Secondly, the idea of cryptocurrency goes directly against the ideology of Communist party of China. So I don't see China taking over as a crypto leader anytime in the future. However, countries like Singapore can become the powerhouse of cryptocurrency business and then Dubai can take over the 2nd spot. Not China.

I very much disagree that NFT will die down sooner. It has the potential to have financial value similar to cryptocurrency and not only that, it also has cultural value for the community that own and hold them. I would also argue that because of the regulators in America are presently going after tokens and classifying them as illegal securities, some investments in tokens might go to NFT.

Also, I am not quite certain if you are updated with the news, however, China has been opening up on the cryptospace again. I have been sharing news all over the forum about this.

China has been actively involved in the blockchain space and has shown significant interest in developing blockchain technology.I think , it is possible that China will have a leading force in the blockchain also it is possible that the BRICS (Brazil, Russia, India, China, South Africa trading currency will be based on the blockchain.

I think China has a lot of potential to become a leader in the cryptospace, especially if they embrace blockchain technology and NFTs. I also agree that the US government needs to provide more clarity and support for the crypto industry, otherwise they might lose their competitive edge.

We need to monitor market trends and global events to make correct investment decisions. The imposition of unclear regulations and the departure of developers from crypto-related projects in the US could also be a factor in China becoming a leader in blockchain technology and crypto.

Whether China could take over the leadership in blockchain and launch a new bull market in crypto remains a prediction and uncertain. China is showing a particular interest in blockchain technology and has launched efforts to develop and use this technology in various fields.

From the beginning of 2023 to now, China is more open to crypto, and conversely, the US is showing that they are quite imposing, I think the managers are expressing their own views and strategies. them with this field. Indeed, with crypto this market is too small, the legal corridor is not clear, leading to easy price fluctuations in the face of positive and negative information. Personally, I think that depending on the political power of countries in this market, it may be possible to build in line with economic trends but overall, it cannot stop the crypto market more widely known as well as its acceptance.

After knowing that the mainland Chinese government is against bitcoin activities, I did not expect much that they would expand the crypto industry space to various territories. Hong Kong is China's only exclusive contribution to the crypto space which I think will be around for a long time until some of their special importance is achieved.

Thankfully when other countries will begin to get bitter towards bitcoins and cryptocurrencies as a whole, other countries like Hongkong always reach out their hands to help those crypto companies that are in need of homes after they suffered some foolish lawsuits from the SEC or the US government. I hope when they take crypto companies like this, they won't change their regulations anytime sooner giving those companies a hard time recovering their losses from the previous damages caused by the past countries they were operating with.

I don't follow the world wide political developments regarding crypto currencies that closely but since i am interested in cryptos which started in 2017 i always got the impression that China is very repressive regarding cryptos and they have introduced quite a few laws in the last few years to get more control over cryptos, to restrict them or to even ban them.
Of course with the recent developments in the US it seems like other countries could use that opportunity to position themself as a crypto friendly area because in the end the crypto space is a multi billion $ industry and every country that is welcoming this industry could make a lot of money with it.

If some of you are not concerned by oppressive and authoritarian regimes leading blockchain, I truly do not understand what is all of your standards toward cryptocurrency. A mere uptrend prices or market action?

Amidst the recent strict regulation that is being applied within the US, Hongkong does not specifically become the centre of attention. There is Dubai, which favours cryptocurrency adoption earlier, and also some rumour suggests the UK will follow trying to be a crypto hub. In the near future, I don't think China would follow Hongkong cryptocurrency regulations path.

Though they may be against bitcoin adoption but that doesn't mean they can't make the utility use for the blockchain technology in some aspects of their economy even though China is very adamant as well in accepting other offers from without, but maybe due to the nature of the the blockchain technology being a decentralized network, they may give it some considerations for use, but OP should know that either of these two is not a determinant for the market rise or fall.

This is not the first time China has banned or allowed cryptocurrencies. The last time they banned cryptocurrencies again, it did not affect the market much. Now that they have allowed cryptocurrencies again, it hasn't affected the market at all. I thought this might really be the start of a new bull market, but as usual expectations were not in my favour. Now there is a new threat from the US. But I hope they will not ban anything.

China is too unpredictable and it is primarily interested only in its digital yuan, which is a direct competitor to cryptocurrencies. I am not sure that with such interests, China will develop cryptocurrency as well as the United States. I am more inclined to think that Hong Kong or the Arab Emirates could be the global leader in cryptocurrencies. Too much different news is coming out of those regions, but I certainly wouldn't count on China's support for the entire crypto community.

Simply because they exit on crypto space very early I think around 2017 to 2018 while their recent crackdown is just a couple of years. Most of their citizens doesn’t hold crypto anymore so their news doesn’t gave much impact because Chinese is not on the market anymore.

China is open for blockchain technology but not with other cryptocurrency. Probably they will just launch their own but still not open with other currency. I doubt this will start bull run since Chinese buy power is still limited on their own blockchain.

Would they allow the coins or native tokens of those chains developed by non-Chinese companies though? They could end up banning all of them and allow only the "locals". Only Hongkong that would be open for all.

I'm doubtful on UK but there should be no problem if both HK and Dubai ends up being a crypto hub in their respective regions.

As I read in sources according to a study by one company, the global economy will receive an additional $1.76 trillion by 2030 through the use of blockchain, which is 1.4% of global GDP, with Asian countries benefiting the most from the technology.
China will get the most. He, along with India and Japan, will become the driver of blockchain development in Asia. And the US will get a little less.

Interesting perspective, although I would argue that China' primary interest in its digital yuan does't preclude them from becoming a blockchain leader! Why cant a country pursue its digital currency and support the growth of crypto?

Remember, the cryptocurrency is a complex interplay of market trends, technology adoption, and regulatory environment. That said, why do we view China' unpredictability as a hurdle rather than an opportunity for surprise advancements?

As for Hong Kong and the Arab Emirates taking the helm, it's not implausible, but aren't we overlooking the fact that these regions, while dynamic, still have to contend with their own challenges? Any which way, its a captivating tale unfolding, wouldnt you agree?

Absolutely not, there is no way that they would never even consider a possibility that they would get something like that, it is impossible. I personally believe that China do not even let the "locals" build anything, thye just use them as workers, so they are still the boss. I know that it is not that easy to understand for people at western nations because they do not see that as a possibility, but that's the reality, we just need to focus on that.

If you think that it won't happen or couldn't happen that is because you live in a free nation and can't imagine living by the word of just one person, but that's how china lives and nobody can breath even without president allows them to breath. That's why there won't be any foreign ones, and local ones will be under strict rules to follow.

China is a big market and of course China will be the leader of the cryptocurrency bullrun,
let's just wait until 2024 or 2025 because 2024 bitcoin halving and according to history price movement will be positive and bullish again,
so don't worry about US or SEC, because the market is not from there but from China.

The UK rumour is not set lately, if we take years back, the Prime mister has stated an interest in cryptocurrency. Recently, the government is working its way to clearly regulate cryptocurrency worlds. See https://www.gov.uk/search/all?keywords=crypto&order=relevance.

In regard to the rumour, I follow Andreessen Horowitz's takes on their belief in the UK as a crypto hub. They have just opened up a new office over there. They are prominent cryptocurrency company investors, and noting the UK government's stance toward cryptocurrency, there is a possibility it will follow Dubai and Hongkong.

It’d really be quite ironic if China ignites the next bull run after they played a huge part negatively impacting & effectively nullifying the previous one by banning bitcoin & forcing miners to leave.

I know they are somewhat being open to crypto in Hong Kong now but I am sceptical that they will suddenly open the gates to the whole country to enable mass buying by retail investors.

I hope China seize the opportunity that is possibly being given to them by a hostile regulatory environment in the US. Let’s wait & see how it develops.

We are everyone know as well the article china is most powerful country and who founder of crypto bitcoin they are come from also china her name we know Satoshi Nakamoto so we can expected crypto currency leader china and hopefully can starting bull market very soon.

Hehehe this should not really come as a shock, I reckon. China has already begun stimulating their economy by loosening their monetary policy and create an environment where it is easier for their consumers to get credit and liquidity. I speculate that by the time the cryptospace is welcomed through the borders of Shanghai, China will be overflowing with liquidity that will be ready to flow into crypto.



Xi Jinping’s government is preparing to stimulate consumer spending and prop up the property sector to boost the faltering economy under policies which will underpin commodity prices and benefit Australian exporters, economists and business chiefs say.

Top Australian executives at companies trading with China said there would be some short-term pain from the myriad of pressures on China’s economy, but they were confident a stimulus package would turn the heat down in the short term.

“The government is signalling pretty clearly they will use monetary policy which we are seeing,” Mark Whelan, ANZ Bank’s head of institutional, told The Australian Financial Review from Shanghai.
“I would expect some of the other stimulus they are still working through is more likely to be about how they will move the property market in the direction they want.

Source https://www.afr.com/world/asia/china-shifts-to-stimulus-to-salvage-faltering-economy-20230614-p5dgfc

Now as we see from the news that the interest in Chinese crypto is much more positive than in the US, I am not sure how long this will last when the polar ring can turn. change, when in recent years the economic competition between the two leading countries in the world. Allowing cryptocurrency trading in Hong Kong could take advantage of the US crackdown on crypto and attract large companies to move their operations to Hong Kong. This requires strict management and reasonable government regulation to ensure safety and transparency for crypto users. If Hong Kong becomes a global hub for crypto businesses, that will likely increase China's influence in the international crypto market. However, to achieve this, cooperation and support from the government and other regulatory organizations is required to create a crypto-friendly business environment.

To sum up, enabling cryptocurrency trading in Hong Kong could have the potential to become a global hub for crypto businesses and bring major economic benefits to the region. There is a need for strict management and reasonable regulation to ensure the safety of users and for the sustainable development of the cryptocurrency market.

That's fine! We are allowed to have different opinions. We are not living in North Korea!

NFT market is the best way for new-age money launderers to make their money white. So yes, the market may not die down soon because money laundering will always take place and those JPG images on blockchain will see an increase in value. Afterall, someone has to buy it at a high price to show the investment and then sell it off at an even higher price.

But NFT market has no utility at all, apart from parking money and laundering money. I can make thousands of copies of these images and flood the market at any point in time. So I am not sure what cultural values you are referring to. If someone has money, buy an original painting by the renowned painters. That would fetch much higher return on investment.

I predict that the NFT market will die down in the next 2 years. Hopefully, I will still be around that time.


 

In any case, residents of mainland China will continue to violate the laws by trading on the Hong Kong cryptocurrency exchange. Thus, until the Chinese government lifts its previous bans on cryptocurrencies, Chinese citizens will not be able to return to the cryptocurrency market en masse.

China will takeover the cryptocurrency market and it will happen!.
Millions of marketcap dollars will come from China because China has allowed its citizens to trade and use cryptocurrencies,
of course with this we will see a bull run that we haven't seen before,
this is also predicted some experts that they say the next bullrun is a very great bullrun.

Has China legalized crypto transactions and trading? because as far as I know, until now China has still not declared to allow crypto transactions and trading there. So far, it is Hong Kong, not China. Maybe I'm late reading the news, but from some of the searches I did, there was no news that said that China was canceling the ban on cryptocurrencies there. CMIIW

It was supposed to happen on 1 June, but if I understand correctly, it only applies to Hong Kong. It does not apply to the rest of China. Although you are right, I haven't seen an official statement either. I think that if it happened, the capital would be directed to crypto. But so far only bad news from America.

Hong Kong is the hotbed for cryptocurrency after China started cracking down on the cryptocurrency space but countries like Singapore, Vietnam are more open to the cryptocurrency space and majority of the businesses from India are moving to GCC countries as they are crypto friendly. With US cracking down on the cryptocurrency space and they have already imposed restrictions on China, they need to open the market with the help of cryptocurrency to counter these restrictions and if that happens it will have an impact on the overall market.

It's a fake crackdown if you look into it.

https://www.talkimg.com/images/2023/06/16/H2yLo.png

As you can see, a lot of mining is taking place in China. This is data from this year.
And we have this piece
https://cointelegraph.com/news/hong-kong-legislator-invites-coinbase-to-the-region-amid-sec-scrutiny

I think that 2021 fake crackdown was done only to make introduction of CBDC easier and warn people that moving money out of the country via crypto is illegal.
The Chinese are smart. They know bitcoin cannot be banned, which is why they want to to make Hong Kong into a crypto hub.

Freedom is an enemy in China and you keep your friends close and enemies closer. If they get control of a large part of the industry they'll be able to influence it without officially fighting it.
 

China will not allow a decentralized Money to circulate into their economy but at the same time they don't want to let the opportunity to slip away from their hands that's why they are playing smart by making cryptocurrency legal in HK while restrictions on the rest of the place is to accumulate the business related to cryptocurrency in their territory and make revenue from it while they also keep their citizens away from using the same technology.

You cannot just dismiss it as only an opinion because look at the NFTspace. It is growing and has created many different platforms that act as infrastructure like Opensea, Looksrare and Blur. Multiple wallets like Metamask have implemented NFTs in their software, centralized exchanges have NFT sections created in their sites, what else do you need to use as proof that it will not go away in the next 2 years?

I predict that you will certainly be still around in 2 years to witness the growth of the NFTspace by more than 2x. This is a very conservative estimate.

Your skepticism around NFTs is noticeable, but let's avoid generalizing! Sure, as a new tech, there's a misuse scope, including money laundering. Isn't that true for all currencies, even cash? You question NFTs' usefulness, which is fair. The real value of a limitless duplicate-able JPG image, right? And yeah, digital music tracks can be duplicated too, but people pay for originals. Its about ownership, authenticity, and supporting creators directly.

Arguing for traditional art over NFTs, arent we barring digital artists from monetizing their work? Not all are inclined or equipped to create physical art. Shouldnt a pixel artist reap benefits similar to a traditional painter?

News update.

I am not quite certain if China's plans for their blockchain ambitions will pump Conflux and the other Chinese projects presently being traded in the cryptospace, however, I am quite certain that this will be one of the biggest storylines on the peak of next bull market. This is why as investors it might be good to begin your research on Chinese projects.

One of the next biggest pumps might be the pumps being caused by the new Chinese Ethereum storyline hehehe. It was Neo on 2017, my speculation is it will be on Coinflux on 2025.



In yet another example of the country’s commitment, China is moving forward with a new blockchain infrastructure plan for one of its largest cities. However, the city’s governor announced the plan and what it could mean in the short- and long-term future.

Specifically, China is set to develop a blockchain infrastructure in Shanghai by the year 2025. Nevertheless, the official government update stated that the plan is to “strengthen the application of blockchain in the real economy.” As well as using that application in other sectors as well.

Source https://watcher.guru/news/china-to-develop-blockchain-infrastructure-in-shanghai-by-2025

China have a restrictive sphere on crypto. Has made it difficult for people to hold and trade crypto if not illegal. That way China would not be able to contribute much to the global crypto aspiration but as you mentioned, Chinese local crypto could be a cash cow for we outsiders. As they have limited option, any of considered "Chinese" crypto would rise when the bull comes. I might keep a little stock of conflux on my next buy.

This proof is a good basis that the USA and China are one of the biggest players countries in the cryptocurrency market.
So for me, the United States of America will maintain its spot as number 1 in terms of hashing power on Bitcoin.

By this means, a country is more into blockchain technology, best example is this graph where you can see hashing power is high in the country.

The Chinese government may restrict its citizens from holding and trading crypto but not for the government itself. The Chinese government wants to master crypto first with its secret projects that maybe no one knows about. So if it's China's secret plan to ban its citizens from using crypto, it's already half done.

Meanwhile, the news of this update shows us that the Chinese government is serious about working on these crypto projects. And it could be a sign for the next bull run. Any government that realizes the profit potential of crypto will start researching what they could get if they could do something with crypto.

And if Coinflux is a secret Chinese project, maybe people can start investing in the coin. But before investing, people should do more research to find out the advantages of the project. But we don't know what will happen to China in the future. We can only speculate because we don't know China's secret plans for crypto and can only guess based on the news circulating.

Similar to every pump that have occured in the cryptospace, they always started with a storyline and China's blockchain ambition will certainly be one of the biggest and bullish storylines during the next bull market on 2025. As an investor it would be a mistake if you did not buy some Chinese projects' tokens while much of the cryptospace market is in the stage of disbelief.

China may have launched its own CBDC first, but that doesn't mean it'll beat the US in the long run. It's a communist country after all. Capitalism always prevails, so it should only be a matter of time before the US becomes the leader of the crypto/Blockchain industry. That is if Congress gets its act together by revising existing crypto regulations. We all know how hostile the SEC has been against the industry lately. China is trying to gather the attention of mainstream investors by embracing crypto through Hong Kong. I'm yet to see whenever its efforts will be a success or a huge failure.

The UAE is also trying to get into the game by making Dubai the world's next crypto hub. It's survival of the fittest. Whichever country becomes the leader of all things crypto, will rule the world. We'll see what happens in the future. Just my opinion :)

@Abiky. America is presently the leader of web3 and blockchain, however, it might not hold this position very long if uncle Gary and the SEC will continue cracking down on the cryptospace projects and services under their jurisdiction. This will cause investors and developers to invest and go to another jurisdiction where they are encouraged to create and develop new projects.

In China's opening for the cryptospace, it will be Hong Kong first then Shanghai. This news update supports this argument. However, they might do this under whitelisting.



On August 15th, Hong Kong Chief Executive John Lee Ka-chiu expressed that Web 3.0 is a new direction for the development of the Internet. Hong Kong maintains an open and inclusive attitude towards innovators worldwide engaged in virtual asset businesses and aims to create a conducive environment.

Source https://twitter.com/wublockchain/status/1691288400765321216?s=12&t=fx2RmsbaS0qNJTJTdpNu2w

Source of the news. Use a Google to translate.

https://bau.com.hk/download.html?id=1140707314792357888&url=https://bau.com.hk/article/2023-08/14/content_1140707314792357888.json

Yes. The SEC is pushing hard with its aggresive crypto regulations. If all crypto exchanges, and companies move away from the US, the country will go backwards in terms of FinTech innovation. It seems like China will "eat its cake". The UAE is also getting into the game. This shows us that crypto won't die even if one country decides to turn hostile against it.

That's the beauty of decentralization and censorship-resistance. Countries that embrace the revolution will win big in the long run. It seems like China is taking advantage of the situation for its own benefit. Who knows if this will make China the largest economy in the world within the not-so-distant future? Just my opinion :)

The cryptocurrency market is moving across the globe, China to use crypto assets as a means of payment is a big welcome development, which in next Bull Run market, China will contribute in one way the other for cryptocurrency market News, that we make an impact in Bitcoin and other alt-coins price value.

News update.

It appears that Jihan Wu's Maxiport is applying for a license in Hong Kong to operate as cryptocoin exchange. There is 21 in total applications including some familair names in the cryptospace similar to Huobi, crypto.com, Bybit and OKX.

It also appears that everyone has forgotten and has understimated China's effect on the cryptospace. I reckon that we will remember hehehee. Similar to the new mayor of bitcoin's market twap, China will also twap on the market through the exchanges in Hong Kong.



This list sets out the names of virtual asset trading platform operator applicants (VATP applicants) whose licence applications have yet to be approved by the SFC [Note 1]. All VATP applicants on this list are NOT licensed or regulated by the SFC, and may NOT be in compliance with the SFC’s requirements.

The purpose of this list is to enable any member of the public to ascertain whether a virtual asset trading platform has made untrue or misleading misrepresentations regarding its licence application status with the SFC.

Source https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/Virtual-assets/Virtual-asset-trading-platforms-operators/Lists-of-virtual-asset-trading-platforms

China doesn't seem to be willing to take a lead on overall crypto market to lead the bull run. There had been some research going on in blockchain technology but they are not accepting crypto as a legal way to transact value. There had been several crackdowns and the Chinese government officials has no any shift in strategies. They do consider financial freedom a way of dissent from the state. The money and it's transaction are now closely controlled and watched over by the government. They are making it difficult to transact with cash let alone other ways. All the transaction are supposed to be done with online banking.

If that really happens then the bull prediction will happen soon because this is a sign of fresh air that the bull will happen because there is a lot of good news regarding cryptocurrency if good things happen then it will push up prices on the market. So. Be prepared to face it, don't be late, don't make no investment at all

will hongkong give that much impact though? i just forget they have that much capital to move bitcoin into even higher direction as we know, the current market cap might requires billions pumping into the crypto space.
what I remember though china was rumoured to be banning the use of any stablecoin and replacing it with their own CBDC which kinda make sense since they are developing it anyway.
I think if thats true and the fact that china allow the trading and investing of cryptocurrency in general its probably thanks to SEC approving ETF and therefore so many other countries out there
seeing cryptocurrency investment in the better light like basically there are few countries that follow this move and allowing themselves and their citizens to be investing in cryptocurrency.
I roughly predict that maybe in the next decades cryptocurrency gonna be widely accepted just like stocks.

so true. Actually, it's never too late to invest in the crypto world.
Moreover, with news like this, it will definitely be the reason for quite drastic price increases. However, you also need to remember what altcoin you will choose as an investment place

This thread was created last year, maybe 9 months ago to be precise. I won't say that this news will not have an impact on bullishness because for me any positive news that happened in the past will definitely have an impact (although not a big one). Currently everyone is focused on the positive trend that has occurred recently because BTC is only $ 5k away from ATH 2021. This price increase confirms that bullishness is getting closer and this means there is less time to buy.

Top 10 or 5 that can be said to be instant investment options, however, from my point of view, the price of Bitcoin is now approaching its all-time high, so to start investing now, for me personally, it is better to hold back for fear of another downturn, very fortunate for who started when prices were cheap during the bear season, when compared with current prices you can see the estimated profit

Coinbase crashes, which is another indicator of the bull season. Usually retail investors rush to purchase bitcoin, and that is why the app fails to handle such traffic and crashes. I guess there can be max few weeks before we make an all time high for bitcoin. This is a new milestone for bitcoin and the ATH can be very close because the inflow of bitcoin is way lower than the outflow of bitcoin. The supply and demand concept will work here, and the massive shortages of bitcoin will cause a massive rally.

My opinion on this matter is that China is indeed taking a more active stance in the crypto space, especially considering the state support for blockchain and NFTs. This could lead to a resurgence in the cryptocurrency market and create new opportunities for investors and developers. While America grapples with regulatory uncertainty, it may complicate matters for crypto projects based there. Ultimately, competition between different countries may stimulate innovation and development in the cryptocurrency sphere.

the price of bulish trend is not because of china. but because bitcoin wants to do its 4-year celebration, namely halving. but indeed the majority of crypto users in the world are china or china is the largest market in the world. so the ups and downs of prices are definitely influenced by china.

Even though the Bitcoin price has now touched ATH, I think if you look at a further range between the next 1-3 years, it is still a very good investment here.
This is the same as the thoughts of everyone who wants to invest in Bitcoin, including me.
I always think that the price is high and am afraid that the price will go down. However, what happens is the opposite, if you look at a longer time span, it turns around and the price of Bitcoin is higher than expected

This is because china doesn't see it as threat, they embrace every opportunity that come their way after thorough scrutiny, China might not think of replacing their traditional banking system with cryptocurrency but they will continue to work with crypto because of what they have found out about the market, we should understand that the world is going fully to digital economy and this digital money has been the first digital money that eve existed so we never can tell what china is doing at this point, with the growth of China in the technology and also the are ready for more improvements, I think china is up to something which may unfold later, I so much like the continue support that cryptocurrency is getting from China this days, very no one knows what will happen.

1. Conflux: A promising Chinese blockchain project.
2. Shanghai NFTs: The government supports NFT trading platforms.
3. Hong Kong: Allows crypto trading, potentially impacting the market.
4. Regulatory Clarity: China’s clear stance may attract developers.
In short, China’s crypto developments are worth watching!

Of course. China doesn't want to miss getting a huge "piece of the pie". It's well ahead of its time with the launch of a digital Yuan (eCNY). While other countries are still debating whenever they would do such a move (particularly the US), China has taken a step forward by embracing crypto/Blockchain tech at its fullest. Making Hong Kong the world's next crypto hub is a smart move. The regulatory uncertainty in the US will eventually result in a mass exodus of crypto/Blockchain companies into countries with a friendlier environment.

Not only China is attracting crypto investors through Hong Kong, but it's also mining BTC in secret. Other countries are also embracing the revolution with open arms (El Salvador, UAE). If this keeps up, the global economy will become fully digitized. Who knows if China eventually go as far as surpassing the US as the largest economy in the world? Just my thoughts ;D

I will that in every bullrun there's most certainly many factors that could causes such thing to occur, but I also agree that this bullrun is not because of china, i find china hardly mentioned when bullrun was happening not that the price climbed up suddenly china is in the spotlight personally I think its because its just the time for the cycle of bullrun, ETF, and halving combined the cause of them is a massive pump like this.
remember the lasting effect of ETF approval is massive, its not some random approval but it can impact the whole world to see positive of the bitcoin and when that happens and the legitimacy of bitcoin is given the approval in various countries and this will definitely give an effect, the market cap of bitcoin probably gonna be rising even higher than the previous all time high and when that happens, surely the whole cryptocurrency market will be thriving.
therefore i don't really believe that china will takeover as the leader, their own rules is the one that holding them back at this point.

China is known as the sleeping giant, boasting a population of 1.4 billion. Thus, if the chinese government were to relax regulations on cryptocurrency in mainland china, the effect could lead to a larger bull run following the halving. The probable reason for china's crypto ban stems from the popularity of investing in ICO in 2017, which also attracted scammers, causing concern for the chinese government and leading to the ban. However, the approval of a bitcoin ETF by the SEC might restore china's confidence in crypto, so perhaps we should wait for updates on this matter.