China’s ‘Whack a Mole’ Approach to Regulation Unlikely to Stop Crypto Train By Investing.com

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© Reuters. By Yasin Ebrahim Investing.com – fell Friday as China vowed to crackdown on cryptocurrency once again, but Beijing’s ‘whack-a-mole’ approach to crypto regulation is wearing thin and unlikely to severely dent broader demand just as Western adoption is on the up and up.  fell 4% to 42,971, but recovered some losses after a dipping below $40,000. China’s central bank deemed all digital currency activities illegal and vowed to crack down on the market. But that doesn’t imply that there will be “ban on holding positions in cryptocurrencies,” Seamus Donoghue, VP of Strategic Alliances at METACO told Investing.com in an interview on Friday.  While China’s approach to cryptocurrency regulation “can have a good deal of success, it's a little bit of a whack a mole,” according to Donoghue. “China's is going to be less relevant ... as the trend of Western adoption - given all the banks and other institutions building blockchain capabilities -
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