Is the Chinese crypto market bouncing back?
Hong Kong plans to legalize cryptocurrency and related transactions on June 1st, 2023. In addition, the country will launch a stablecoin pegged to the offshore Chinese yuan.
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It looks like America and Europe risk losing their status as financial crypto hubs, with regulators' ill-conceived actions. But China seems to quickly capture that share of the market.
Justin Sun said that the next bull cycle in 2023-2024 will be backed by Chinese money! Looks like he was right.
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