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China is Socialist country but banning cryptocurrency - a decentralised

currency sounds weird and they’ve trying really hard to ban it since 2017. Is China not a Socialist country anymore or just for a name sake or turn into a Authoritarian Socialism and slowly becoming Dictator?

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yes they are i think

It remains to be seen how much of a sustained

hit Bitcoin will take once the regulations have had time to be enforced

China’s exit from the crypto picture could help open pathways

for other countries to take advantage of opportunities.

Senator Pat Toomey (R-PA) tweeted that the U.S

would have significantly more room to make developments

in the establishment of an infrastructure for cryptocurrency

with China’s new ban taking effect.

China’s authoritarian crackdown on crypto,

including Bitcoin, is a big opportunity for the U.S

yep

It’s also a reminder of our huge structural advantage over China.

With much of the US environment surrounding cryptocurrencies undefined

the potential for growing crypto business and technology

domestically has excited Bitcoin supporters.

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