This is from a post I made in linkedin:
China had a golden run when the government went from communist agenda to a capitalism economy. But lately the Chinese party is trying to agressively fight progress.
Jack Ma questioning, gaming limitations and housing limitations are now followed by crypto currency ban.
Is this real worry for the life quality of the Chinese people or is it panic of a totalitary regim?
History teaches us that fighting progress is a lost cause. I think the ban on crypto is more dangerous to China than to crypto.
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I don't think they can win
Totally agree with you. They should learn from nokia and polaroid.
China seems very concerned about crypto. From their perspective they are correct. Crypto represents a decentralized economy, the exact opposite of the Chinese centrally planned economy
Yes its a real threat for them to allow people access to fair value