This September marks the one-year anniversary of China declaring that crypto transactions were effectively illegal. The decision wasn't entirely unexpected: China has been trying to crack down on crypto in one form or another since at least 2013.
The 2021 declaration prompted some pretty swift and significant changes, including the uprooting of a Chinese Bitcoin mining community.
This episode features Bloomberg reporters Yueqi Yang and David Pan, as well as Winston Ma, a Managing Partner & Co-Founder at CloudTree Ventures, who’s also an NYU Adjunct Professor in the global digital economy.
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The 2021 declaration prompted some pretty swift and significant changes, including the uprooting of a Chinese Bitcoin mining community.
This episode features Bloomberg reporters Yueqi Yang and David Pan, as well as Winston Ma, a Managing Partner & Co-Founder at CloudTree Ventures, who’s also an NYU Adjunct Professor in the global digital economy.
Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts
#Bloomberg #Podcast #Crypto
Visit us: https://www.bloomberg.com/podcasts
Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts
Visit our other YouTube channels:
Bloomberg Markets & Finance:
/ Bloomberg Markets... Bloomberg Politics:
/ BloombergPolitics Bloomberg Technology:
/ BloombergTech Quicktake Originals:
/ Bloomberg Quicktake Now:
/ Bloomberg Quickta... Quicktake Explained:
/ bloombergexplained For coverage on news, markets and more: http://www.bloomberg.com/video
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Francisco Gimeno - BC Analyst China's approach to crypto is clear. No crypto mining, no crypto trade. But the government supports the blockchain technology as a State priority, the Web3, the digital world, and there is a rapid evolution of the digital world there. NFTs are allowed although its trade is not much allowed. They are allowed to develop the digital creativity, and connect to other technologies of the 4th IR. So it doesnt matter very much crypto is not allowed there looking at the actual situation of crypto in the world, but we have to be recognise China wants to be not just a leader but the leader of the 4th IR. Imagine a Metaverse developed in China tokenless or cryptoless. Whether they will be successful in the future, we will have to see. Meanwhile crypto continues to be banned there. The State gives you the apps, controls your social credit and will tell you where to go to the Metaverse and what to do there (or not).