China about to review its position on bitcoin (BTC)?

In June 2021, China announced its divorce from bitcoin and other cryptocurrencies. Rather the beautiful and imposing CBCD than these digital assets that incite revolution. The comeback with cryptos seems far away for the CCP. Unless the contents of this report are true.

China is closely watching Hong Kong’s advances with bitcoin

Have Chinese leaders heard economist Huang Yi-ping’s call to reverse his stance on bitcoin and other cryptocurrencies? They can easily put on the bib of dictators, as is the case with this story of tanks intended to protect the banks, but surely they have ears everywhere.

This is perhaps the reason why the DailyHodl argued that China would quietly support Hong Kong’s proposal to allow retail sale of bitcoins and cryptocurrencies.

Driven by an ambition to become a crypto hub, Hong Kong has only accelerated the evolution of the local situation in order to attract investors.

This week, the Hong Kong Securities and Futures Commission (SFC) published a document consultancy including a proposed BTC and regulated crypto trading license to companies. The same plan will also allow small and large investors to buy bitcoins and cryptocurrencies.

To say that in early November 2022, Hong Kong regulators gave their approval for expanded access to ETFs.

hong-kong-hub-crypto
Hong Kong aims to become a crypto hub

More Chinese Officials in Crypto Dating

Daily Hodl also clarified that recent meetings organized around cryptocurrencies in Hong Kong saw the participation of several Chinese officials. Representatives of the Liaison Office were also part of the delegation. On occasion, they did not hesitate to exchange business cards, WeChat coordinates or even ask for a report to be sent.

[Ils] asked not to be named for reasons of confidentiality. Meetings were friendly, with officials checking on developments, requesting reports and, in some cases, making follow-up calls […] », reports Bloomberg.

For now, China is counting on its digital yen, the only guarantor of its stranglehold on the financial freedom of the Chinese population in the future. Recently, she distributed millions from her own CBDC to accelerate adoption. But can seduction operations contain a population hungry for freedom… and bitcoin?

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