China Is Warming Up To Bitcoin Again
Bitcoin is an innovation China cannot say “no” to.
That’s the message of a Global Times editorial, which praises the digital currency. “There’s an increasing belief that just saying no to Bitcoin won’t be the eventual solution to the cryptocurrency issue,” writes Xiao Xin, author of the editorial. “A more fundamental approach would be to embrace the new technology without putting the country’s financial system at stake.”
This approach is a signal that Beijing is getting ready to tighten regulations around the digital currency, as U.S., Japan and Korea have done,rather than ban it altogether.
And that could be bullish for Bitcoin prices, which have been all over in recent months. Regulating Bitcoin is certainly better than an outright ban.
https://www.forbes.com/sites/panosmourdoukoutas/2018/05/31/china-is-warming-up-to-bitcoin-again/#742ebca978c9