"BTC not a currency per se but can be an alternative asset" China

[Fredomago]

Lol funny how they can't even decide anything even after years. Do they even know what crypto currencies are?

Oh well China always do this way, changing sentiments from time to time for their own benefits.

I thought they were cracking down everything related to crypto currencies. Banning exchanges, destroying mining farms and making crypto currencies illegal.

I see this coming, as they really have this stand and they really trying to make things tough to all early users and supporters of crypto
inside their jurisdiction.

And then they went on making their own blockchain powered centralized currency.

They are now in a different settings, taking advantage of this system creating their own version of crypto.

What happened to that? Funny to see them now with a different tone.

Might see the benefits and big potential of this system, for sure they analyze it well and now they wanted to take advantage.

I wonder if all these were just staged to see how the market reacts.

Also considerable, they are just observing what the market will react then see if how things will favor their side.

[wxa7115]

This is why we have seen articles on the US trying to bring this issue to Biden so the US gets onboard the bitcoin ship as well, otherwise China will have a strategic advantage over them on a technology that will prove itself to be critical in the future.

The best these governments can do is to leave the cryptocurrency space alone, if they are adamant that they want to monitor the market all they need to do is to monitor the scams and make sure that anyone collecting money should be registered as a company in a legal way so that they will not run away with the money and will do the assigned work and be transparent and will return the money collected if they fail as a project.

If they can do that then the market will thrive on its own and create more business opportunities. I do not care about what China or any other country say about the cryptocurrency market, all they can do if they really want innovation is to leave the market alone.

That will be the best for us and this market which is precisely why this is never going to happen, governments want control and taxes from every single industry around the world and they are not afraid to shut an industry down if they have to, however they cannot do this with this market because this market was specifically designed to resist them.

So they are in a difficult position, if they do nothing as you suggest then this market could grow to the point it replaces their fiat currencies, but if they do something and they fail then this will show how incompetent they are and how there is no way for them to stop this market despite their best efforts.