Chinese court declares crypto legal property protected by law, The U.S. should take note Crypto is Inevitable
I just have to ask when would the United State take note that crypto is inevitable and would not go away ever no matter what the government thinks or does, if china that is notorious for baning and unbaning crypto in the past is now opening their doors to crypto once again. Hong kong officially launched its first Crypto trading platform 4 days or 5 days ago, now the Chinese court has published a document recently stating that digital assets are "legal property" protected under property laws and rights.
Is China up to something:
A lot of posts and tweets online suggests that China might be up to something with their recent love for digital currencies and assets. Anyways their recent crypto love and moves could be good for the crypto industry but the big questions now is, would china default on their new found love for crypto and then ban crypto at the peak of the next bull run? causing a huge dip or dump just like they did in 2021, we all know how the story went, except you where not into crypto back then. That being said, no country would wants to be left behind when it comes to adoption crypto, although we do not have a lot of countries that has adopted crypto yet but it is just a matter of time and everyone would come around.
China is really dramatic when it comes to crypto
I would not deny the fact that china is really dramatic when it comes to crypto. The People's Court report on the legality of digital assets which includes crypto and Nfts is a bullish documentation. China might still turn around one day and fully support the digital assets space including mining. But there is no guarantee that China would not ban crypto again, let's watch and see how it all plays out.
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I still don't know how to react to this, knowing fully well of the recent happenings to devalue the US dollar.
No doubt, this is a positive news for the crypto space, but behind every movement, there is an element of truth.
Welcome back @onwugbenuvictor.
Thank you bro, and it is a positive news for crypto.