The asset director of assets said in a research report on Monday that the formation of the Trump administration of the American Bitcoin Strategic Reserve may make China rethink its hard -line position against encryption, and this may be a key to the accelerated global adoption of BTC.
“The most important country that must be seen in this regard is China,” Graysical said, adding that if the country relieves its restrictions on encryption, “it may significantly enhance global adoption.”
President Trump last month Manage To form a strategic bitcoin reserve – at least – the government’s assets seized.
Grayscale pointed out that the current Chinese government policy prohibits most encryption activities, such as circulation and mining, but allows the reservation of digital assets.
However, “Political makers allowed the expansion of the activity associated with the Hong Kong encoding under the framework of” one country, two systems “,” said Grayscale.
Local organizers may take another view of the legal treatment of encrypted currencies in the country. The report indicated that the Supreme Court of China and other judicial bodies were discussed in February on how to deal with digital assets in future legal cases.
Read more: American Bitcoin Strategy Reserve, encryption stock “a pivotal moment” for industry: KBW
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