Peoples Bank of China (PBoC) issued a statement through state media this week claiming the yuan now accounts for less than 1% of total Bitcoin exchange volume.
This was caused by the ban, but still we see China put out blockchain related reports and rankings, I feel the government is preparing the public to better invest in crypto, once they open the well regulated and controlled gates.
How soon do you see this happening? I'm hopeful of seeing a ban lift this year, still you never know in crypto.
Perhaps yes, I really don't know why they bring about this report, but I feel this is wrong. China control the Bitcoin mining space and now telling me the volume is that low do not correlate with the amount of Bitcoin mining activities in the country. I do remember those days when China use to drive the price of Bitcoin.
