What is China’s Position in the Crypto New World ?

After some new regulations that happened in Hong Kong during the last days, China is trying to re-enter the crypto world.

A couple of years ago, China was considered to be the #1 player in the crypto field and controlled a large portion in the crypto mining sector, and consequently the decisions taken from core teams of decentralized cryptocurrencies.

The regulatory change two years ago, threw all the crypto mining companies from Chinese territory, creating a gap in the market. In parallel, China prohibited many crypto transactions, promoting its CBDC.

The last news are expected to bring change in the system, according to Hong Kong’s example.

We don’t know how an open market in the crypto field in China and who want to bring them towards that direction.