China's Ex-Finance Deputy Urges Xi Jinping Government To Study Cryptocurrencies In Light Of 'Latest International Changes And Policy Adjustments
Portfolio Pulse from Aniket Verma
Zhu Guangyao, China's former Vice Minister of Finance, has urged the Chinese government to study cryptocurrencies, highlighting their importance in the digital economy. Despite China's 2017 ban, the country still controls a significant portion of the global Bitcoin hash rate. This call comes amid changing international dynamics, including the U.S.'s increasing focus on cryptocurrencies.
September 30, 2024 | 9:47 am
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China's former Vice Minister of Finance, Zhu Guangyao, has called for a deeper study of cryptocurrencies, despite China's 2017 ban. This highlights the ongoing significance of Bitcoin in global discussions, with China controlling a large portion of the Bitcoin hash rate.
The call for a deeper study of cryptocurrencies by a former high-ranking Chinese official suggests a potential shift in China's stance on Bitcoin. Despite the 2017 ban, China's control over a significant portion of the Bitcoin hash rate indicates its ongoing influence in the market. This could lead to increased interest and potential regulatory changes, positively impacting Bitcoin's price.
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