China is considering a potential shift towards cryptocurrencies, discussing a strategic Bitcoin reserve and lifting the crypto ban.
China's Shift in Stance
Recent reports suggest that China may reconsider its stance on cryptocurrencies and Web3. Hashkey CEO said, "I think there is the possibility the mainland China government will reconsider their stance towards the crypto and Web3 industry."
Competition with the US and Global Influence
China aims to strengthen its global position by launching cryptocurrencies and blockchain technologies. The country sees this as a chance to compete with the US and lead in the digital economy.
Chinese Altcoins Under Watch
Analysts forecast that, once the ban is lifted, significant investment will flow into Chinese tokens. Experts note: "In a positive scenario, their liquidity will first flow into China-related tokens."
Chinese altcoins like Aethir, Zilliqa, and Neo may benefit from the changes, presenting growth potential in China's crypto industry.
