Here’s How DeFis Will Benefit From (Yet Another?) China Crackdown on Crypto

Company

GETBLOCK

October 6, 2021

3 min read

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It looks like in Q3-Q4, 2021, Beijing is deadly serious in its anti-crypto attacks. How does it affect the segment as a whole? And why is this a story about great opportunities?

What happened?

In September, 2021, People’s Bank of China (PBoC) issued a number of statements to confirm that all cryptocurrencies transactions in the country are illegal. As such, no firm or bank should deliver services to crypto-related businesses.

Despite some speakers stressing that PBoC releases such statements periodically, markets listened to this signal. All the more so because Chinese Internet watch-dogs immediately blacklisted CoinMarketCap, Coingecko, and even TradingView.

Company

GETBLOCK

October 6, 2021

3 min read

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