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AMDK experts bad moutb sinki fav cypto going to hust big bug
- Thread starter k1976
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The bitcoin price has swung wildly—dragging etheruem and other major cryptocurrencies including XRPXRP, BNBBNB, cardano, dogecoin, solana, tron and toncoin with it—as hype built around a flurry of closely watched U.S. spot bitcoin exchange-traded funds (ETFs) filings that the Securities and Exchange Commission (SEC) has kicked into October (though Tesla billionaire Elon Musk could be about to lob his own grenade into the bitcoin and crypto market).
"Virtual currency is not classified as an illegal item. Therefore, under the current legal policy framework, the virtual currency held by relevant entities in our country is still legal property and protected by law," the People’s Court of China wrote in a report titled "Identification of the Property Attributes of Virtual Currency and Disposal of Property Involved in the Case," according to a local news site ODaily.
"At some point the strategic embrace of crypto technology by the PRC [People's Republic of China] will catch the attention of U.S. policymakers," Faryar Shirzad, chief policy officer at bitcoin and crypto exchange Coinbase, posted to X (Twitter). "Chinese courts don’t create a legal framework around anything without the blessing of central authorities."
The court report follows bitcoin and crypto companies in Hong Kong, a special administrative region of China, being issued licenses to offer crypto trading to the public under a new regulatory regime. Last month, the first licenses were awarded crypto exchanges HashKey and OSL.
"At some point the strategic embrace of crypto technology by the PRC [People's Republic of China] will catch the attention of U.S. policymakers," Faryar Shirzad, chief policy officer at bitcoin and crypto exchange Coinbase, posted to X (Twitter). "Chinese courts don’t create a legal framework around anything without the blessing of central authorities."
The court report follows bitcoin and crypto companies in Hong Kong, a special administrative region of China, being issued licenses to offer crypto trading to the public under a new regulatory regime. Last month, the first licenses were awarded crypto exchanges HashKey and OSL.
Despite China's 2021 bitcoin, ethereum and crypto crackdown, which saw it expel crypto companies and so-called miners who maintain blockchain networks and crashed the bitcoin price, some have predicted Hong Kong is primed to become a global crypto hub.
In June, the chief executive of the stablecoin issuer Circle, Jeremy Allaire, who oversees the $28 billion USDC stablecoin, said he sees "enormous demand" for digital assets in emerging markets, with China and Asia at the "center."
"Hong Kong is clearly looking to establish itself as a very significant center for digital assets markets and stablecoins and we are paying very close attention to that," Allaire told Bloomberg at the World Economic Forum in Tianjin, China.
In June, the chief executive of the stablecoin issuer Circle, Jeremy Allaire, who oversees the $28 billion USDC stablecoin, said he sees "enormous demand" for digital assets in emerging markets, with China and Asia at the "center."
"Hong Kong is clearly looking to establish itself as a very significant center for digital assets markets and stablecoins and we are paying very close attention to that," Allaire told Bloomberg at the World Economic Forum in Tianjin, China.
