Right now, I like anything that helps normalize the white-hot hype of cryptocurrencies. There's some real utility in this technology, and we won't get to see it until companies are forced to make sustainable business cases and serve real customers.
However,
> A website set up by the Chinese central bank warned that cryptocurrencies are "increasingly used as a tool in criminal activities such as money laundering, drug trafficking, smuggling, and illegal fundraising".
That sounds a bit like lip service...are they really just protecting investors and citizens, or is it because the assets are much harder to seize? Recently, there has been a large crackdown on foreign real estate purchases[0].
What other incentives does the party have for this policy?
However,
> A website set up by the Chinese central bank warned that cryptocurrencies are "increasingly used as a tool in criminal activities such as money laundering, drug trafficking, smuggling, and illegal fundraising".
That sounds a bit like lip service...are they really just protecting investors and citizens, or is it because the assets are much harder to seize? Recently, there has been a large crackdown on foreign real estate purchases[0].
What other incentives does the party have for this policy?
[0] https://www.forbes.com/sites/ellensheng/2017/07/31/chinese-o...