China uses crypto to increase foreign currency deposits via foreign customers, while domestic usage is out of the question.
All these developments don’t mean that China has softened or will soften its approach to regulating Bitcoin anytime soon, according to CPIC Investment Management CEO Chenggang Zhou.
“Hong Kong regulations allow us to invest in different markets or asset classes or products like cryptocurrencies, so we’re not breaching any regulations or laws,” the CEO said. He added: The CEO isn’t alone in thinking that China remains and will remain anti-crypto while trying to beef up Chinese bank deposits with crypto accounts.
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