Why let it go? Once you understand, you won't be entangled. There is no reason to abandon a profitable business to start over; this is human nature.
K1ko妹妹的爸比
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Why can exchanges be compliant in China, but have failed?
Everyone is talking about OKX and Coinbase's compliance and the expulsion of unqualified customers, forgetting the path they took.
Let me say this: Crypto exchanges can be compliant in China.
RMB subscription/redemption, overseas asset net value settled in RMB, no physical delivery is allowed.
In simple terms, it means using RMB to participate in crypto investments and earn profits, but you cannot take the spot assets out.
QDII, RQDII, and cross-border ETFs all use this scheme; I have bought E Fund's QDII for many years.
According to the current regulatory framework, it is completely possible to establish a closed entry and exit model for crypto exchanges that is the same as QDII funds and RMB-denominated cross-border ETFs.
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