Why Bitcoin Traders Are Moving From China To Japan.
It's been a couple weeks since the ban on cryptocurrency exchanges in China and traders are already moving to Japan due to better cryptocurrency regulations. I think if China supported Bitcoin and regulated it in a fair manner I believe that their economy could really benefit in the future if cryptocurrency is mass adopted.
Not a smart move China, I hope you will regret it one day.
Let me know in the comments your thoughts on this whole situation.
@cryptotraderx got you a $1.5 @minnowbooster upgoat, nice! (Image: pixabay.com)
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This is known as regulation arbitrage!
China is still run by a Communist regime and as much as they are embracing capitalism it is still not a free market. The Yuan is much more susceptible to being trashed by crypto currency because the valuation is not set by the free market like Bitcoin. So they are threatened and who knows they may be trying to create their own version of a crypto blockchain which they can control with their central bank. Whether or not they try to do that I think they will soon regret the BTC and crypto ban.
The loss from cryptocurrency prohibition is far smaller than the loss of control of the ability to rig markets.
This is awesome! @cryptotraderx Love it.
watch bitcoin retain it growing rate. even Chine population can't stop it
This is terrific news. Well done!