A year ago today China’s central banks temporarily scared the cryptocurrency community when they stopped bitcoin exchanges from operating. Since then the top mainland-based digital asset exchanges moved abroad to more friendlier regions, but Chinese citizens are still acquiring bitcoin whether the People’s Bank of China likes it or not.Why leave the yuan? Because you work in a big bank and you know about the zombies and you sit in meetings about directives from above. This is why we have this global currency standard, central bank neutrality.
Central banks can live in his world just fine. They have market power in an auto traded network, they have great power in issuing bearer tax coins.
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