News
  • Zafar Naik
    author-profile

    Zafar Naik right arrow

    Author

    Zafar is a seasoned crypto and blockchain news writer with four years of experience. Known for accuracy, in-depth analysis, and a clear, engaging style, Zafar actively participates in blockchain communities. Beyond writing, Zafar enjoys trading and exploring the latest trends in the crypto market.

    • 2 minutes read

    BREAKING: China to Lift Crypto Ban Amid Dying Economy? Here’s the Truth

    Story Highlights
    • Rumors on Twitter suggest China might lift its crypto ban due to their worsening economic situation.

    • Recent bank closures indicate financial struggles in China, similar to the 1980s US S&L crisis.

    • Recent defamation case win for a crypto founder and Bybit offering services to overseas Chinese suggest a possible change in their crypto stance.

    China’s stance on cryptocurrency has taken a dramatic turn!

    China possibly lifting its crypto ban in Q4 is the hot topic on Twitter right now. This isnโ€™t mere conjectureโ€”Twitter is abuzz with discussions and speculation from prominent crypto accounts. Observers believe that given Chinaโ€™s deteriorating economic conditions, the country might turn to cryptocurrency as a last resort to stabilize its economy.

    Yes, we’re just as shocked as you are!

    Economy in Trouble?

    China possibly lifting its crypto ban in Q4 is the hot topic on Twitter right now. This isnโ€™t mere conjectureโ€”Twitter is abuzz with discussions and speculation from prominent crypto accounts. Observers believe that given Chinaโ€™s deteriorating economic conditions, the country might turn to cryptocurrency as a last resort to stabilize its economy.

    This banking crisis is reminiscent of the Savings and Loans (S&L) crisis in the mid-1980s, which wreaked havoc on American banks. Aggressive lending growth, poor risk controls, and a significant drop in property prices are severely impacting Chinese banks.

    China’s Troubled History with Crypto

    China has a long history of influencing the crypto market, often negatively. Since 2013, the country has banned ICOs, mining, and other crypto-related activities multiple times, each instance causing significant market downturns. These measures were purportedly taken to protect the Chinese economy. Ironically, China may now have to rely on the very sector it repeatedly abandoned to save its economy.

    More Positive Developments: Good Times Are Coming!

    Last month, TRON founder Justin Sun won a defamation case in the Peopleโ€™s Court of China.

    Source : The People’s Court Announcement

    Additionally, Bybit has started offering services to the Chinese crypto community living outside of China. These developments hint at a softening stance towards cryptocurrency.

    Source : Bybit Press

    What Could a Crypto Ban Lift Mean for the Market?

    Analysts believe that lifting the crypto ban could have a profoundly positive impact on the global cryptocurrency market. Just as China’s anti-crypto actions cast a long shadow over the market, a reversal could usher in a wave of optimism and growth. All signs point to a favorable environment for crypto; now, it’s a waiting game to see when China will make its final decision, potentially giving the crypto community a reason to celebrate.

    Also Read: Failed Assassination on Trump Triggers Massive Crypto Gains

    China + Crypto: A story waiting to be written. The world is watching!

    Show More

    Related Articles

    Back to top button