China’s recent ban on cryptocurrencies was its most draconian to date. Yet it may not be crypto’s darkest hour, according to Angelina Kwan, a former market supervision director at Hong Kong’s securities regulator who now advises digital asset manager Hashkey Group.
From a ban on banks handling crypto-related transactions to a crackdown on crypto data centers that sent miners scrambling abroad, China has taken an uncompromising approach to controlling — some might say crushing — the cryptocurrency industry over the years. In September, Beijing outperformed even its own harsh standards as the central bank imposed a blanket ban on not only crypto transactions, but essentially all forms of activity in the sector.
Why has China taken such a tough stance on a potentially prosperity-generating emerging industry? Is the People’s Bank of China’s latest move really a radical departure from previous pronouncements on the sector? And how will it affect what remains of the crypto ecosystem in China and elsewhere? Forkast.News put these questions to regulatory veteran Angelina Kwan.
00:00 China crypto ban
01:34 PBOC's crypto concerns
03:29 How exchanges are reacting to the ban
04:50 China's social stability
05:50 How regulators may proceed
09:00 Impact on Hong Kong
14:04 China's CBDC ambitions
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#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #China #CBDC #HongKong #DigitalYuan #eCNY #Regulation #Hashkey #DigitalCurrency #Technology
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ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
ABOUT ANGIE LAU
Angie Lau is editor-in-chief, CEO & founder of Forkast.News and host of ‘The Daily Forkast’. She is an award-winning veteran journalist, a respected thought leader in blockchain technology and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit and the Asia Blockchain Summit.
Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.
From a ban on banks handling crypto-related transactions to a crackdown on crypto data centers that sent miners scrambling abroad, China has taken an uncompromising approach to controlling — some might say crushing — the cryptocurrency industry over the years. In September, Beijing outperformed even its own harsh standards as the central bank imposed a blanket ban on not only crypto transactions, but essentially all forms of activity in the sector.
Why has China taken such a tough stance on a potentially prosperity-generating emerging industry? Is the People’s Bank of China’s latest move really a radical departure from previous pronouncements on the sector? And how will it affect what remains of the crypto ecosystem in China and elsewhere? Forkast.News put these questions to regulatory veteran Angelina Kwan.
00:00 China crypto ban
01:34 PBOC's crypto concerns
03:29 How exchanges are reacting to the ban
04:50 China's social stability
05:50 How regulators may proceed
09:00 Impact on Hong Kong
14:04 China's CBDC ambitions
---
#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #China #CBDC #HongKong #DigitalYuan #eCNY #Regulation #Hashkey #DigitalCurrency #Technology
---
OTHER INTERVIEWS:
Word On The Block: https://youtube.com/playlist?list=PLE...
---
ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
ABOUT ANGIE LAU
Angie Lau is editor-in-chief, CEO & founder of Forkast.News and host of ‘The Daily Forkast’. She is an award-winning veteran journalist, a respected thought leader in blockchain technology and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit and the Asia Blockchain Summit.
Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.
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Francisco Gimeno - BC Analyst The China's crypto ban seems to be the definitive one for some time ahead. This time all signs are that the government is looking for economic and social stability and developing their own State blockchain platform and the e-Yuan to unify the digital control of their society, and even expand their CBDC to the rest of the world in the near future. If this is going to be the truth and if they are going to be successful, well, Chinese always work looking at the long term so we will have to wait and see.