Bilang pagsuporta sa quoted message narito ang isang news article, na bagaman nais paigtingin ng China ang blockchain development,nananatiling ban pa rin ang Bitcoin para sa palitan sa Yuan. Isang indikasyon na walang kinalaman ang announcement ng China sa pagtaas ng Bitcoin sa market.
While Bitcoin is becoming a part of the Chinese consciousness again after 2018’s precipitous collapse, it still seems that a majority of transactions and operations made using the currency are banned. Holding BTC, notably, has been deemed legal on multiple occasions, yet the trading of cryptocurrencies, especially for Chinese yuan, is believed to still be vehemently restricted due to capital control concerns.
Case in point, AliPay, Alibaba’s primary fintech business, recently wrote on Twitter that its services should not be associated with Bitcoin in accordance with Chinese law, hinting that the anti-crypto restrictions implemented by the People’s Bank of China and other entities are still in place.
It remains to be seen if President Xi’s newfound blockchain strategy will involve less stringent rules placed on cryptocurrency use.
https://www.newsbtc.com/2019/10/27/chinas-state-controlled-media-explains-bitcoin-to-millions-knock-on-effect/