Only A “Matter of Time” Before China Lifts Bitcoin Trading Ban
Here’s some good-ish news for Chinese Bitcoin fans, CNBC writes that it’s only a matter of time until the Middle Kingdom lifts its cryptocurrency trading ban:
It’s only a matter of time before China lifts its ban on cryptocurrency exchanges, according to the entrepreneur behind what was once China’s longest-running bitcoin trading operations.
“In this world, nothing is ever permanent,” said Bobby Lee, CEO and co-founder of BTCC, which closed down its China-facing trading operations in September 2017 after a well-publicized government crackdown.
“One day I think it’s possible they’ll lift the ban, so called, and they might reinstitute it and license it,” Lee told CNBC’s “Squawk Box.”
As to when the ban gets lifted however, Lee said that that’s harder to figure out, hinting that it could be months, maybe even years.
China banned bitcoin exchanges amid fears that the cryptocurrency craze would spread outside the nation’s fintech community. Given that BTC has risen to new, extra-frothy heights since then, it isn’t that much of a stretch to think that mom and pop investors would’ve ended up playing the crypto game as well. However, crypto’s continuous rise does push the time table for a ban lift somewhat, and given the fact some people like using bitcoin to move their money out of the mainland, that poses some problems as well. Let’s see how it goes.
Photo: BTC Keychain