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The Trump administration's enactment of a U.S. Strategic Bitcoin Reserve mightiness person China re-thinking its hardline stance against crypto and that could beryllium cardinal for accelerated planetary adoption of BTC, plus manager Grayscale said successful a probe study Monday.
"The astir important state to ticker successful this respect is China," said Grayscale, adding that if the state eases its crypto restrictions "it could importantly boost planetary adoption."
President Trump past period directed his administration to signifier a Strategic Bitcoin Reserve to — astatine a minimum — clasp the assets that person been seized by the government.
Grayscale noted that existent Chinese authorities argumentation bans astir crypto activities, specified arsenic trading and mining, but permits the holding of integer assets.
Still, "policymakers person allowed an enlargement of crypto-related enactment successful Hong Kong nether the 'one country, 2 systems' framework," Grayscale said.
Local regulators whitethorn beryllium taking different look astatine the ineligible attraction of cryptocurrencies successful the country. China's Supreme Court and different judicial bodies had a treatment successful February astir however to dainty integer assets successful aboriginal ineligible cases, the study noted.
Read more: U.S. Strategic Bitcoin Reserve, Crypto Stockpile a 'Pivotal Moment' for Industry: KBW
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