Dear Readers,
It would be surprise to everyone if I share the theory that the next All Time High in the Crypto markets would be driven by China.
Yes, it may be true!
We all know very well that all kinds of crypto services and transactions have been completely banned in China and it has taken a hard stand against Crypto from the very beginning.
But there has been many voices inside China that the blanket ban of Cryptos should be lifted.
The recent voice is from the a former member of the Monetary Policy Committee at the People’s Bank of China (PBoC) Mr. Huang Yiping.
We can understand his speech through a local financial magazine that the crypto ban in China would be good only for the short term perspective. But the ban could stop various benefits in the long term perspective. If the Crypto would continue to be ban in the long term, China may miss out various crucial gains on block chain technology and tokenisation. He also urged for a regulatory framework for cryptos. Though the regulatory framework would be difficult, this would bring good results in the financial eco-system in the country in the long run.
He also warned that while the whole world is utilising the gains on cryptos, China would lag behind.
His detailed remarks on Cryptos is enclosed in the resource link that you can read it further.
If China has made a stand on this line, the entire crypto market would be super happy to make things on the higher side probably in the next bull market.
It is to be noted at this point in time that the Tron Founder Justin Sun bought the China based Huobi Crypto Exchange during the Crypto bear market last year. He also hinted that the Trx coins would be accepted by a country- which most of them guessed is China. But this is a blind guess.
But, the native token of Huobi Exchange – HT is pumping on hearing the news.
For your information ranked at 54, HT is currently trading at $ 5.74, a higher of 5.90% from yesterday- with an increased trading volume over 93.75% according to the coinmarketcap website.
If HT would retrace again, kindly keep it in your Crypto watch list.
Meet you again with an interesting crypto news!
Thank you!