Summary:
•China has strictly banned cryptocurrency trading since September 2021, but interest in Bitcoin is increasing.
•Despite the ban, China’s underground cryptocurrency market still has huge trading volumes.
•Hong Kong is open to digital assets and faces an economic downturn pushing investors towards cryptocurrencies.
Recent developments have sparked discussion about whether China may reconsider its stance on cryptocurrency trading. Despite an explicit ban on cryptocurrency trading that has been in place since September 2021, there has been a noticeable increase in interest in cryptocurrencies within China. This is clearly proven by the growing trend of searching for Bitcoin on platforms such as Weibo and WeChat.