There was a lot of speculation that China's decision to ban the ICOs first and then d & # 39; 39: Adopting a strict approach to Bitcoin exchanges, was a power play in front of the 19th Communist Congress
With this political flexion of the economic muscles apart, what is the new dawn for Bitcoin in the country? socialist?
Many believe that there is a new wave of optimism, however, when it comes to Bitcoin, others think it is a game totally different ball.
Cryptocurrencies are a special case
Gordon Chang, an American columnist, blogger, television expert, author and lawyer, said that although Congress was successful and that it was not a big deal. there is optimism for the socialist country, it does not feel liberalism in its path. Chang said:
"There has been some optimism that after the 19th National Congress of the Communist Party, there is liberalization in many areas of the world. economics, it is possible.
Chang is of the opinion that Bitcoin flies too much in front of the Chinese government and that there are no changes massive liberals, the current regime will not support it.
"The Chinese were worried that citizens could use Bitcoin and other cryptocurrency to expatriate money, and take control of capital and make fun of them, so there was this crackdown on Bitcoin. "I think the most fascinating thing is the comments from the People's Bank of China, about China developing its own sovereign digital currency, somehow replacing Bitcoin, which will be fascinating to watch because the Chinese central bank will want to have control and the reason why these cryptos are so popular is because they take control of the government and give it to people, so it's going a struggle. "
This is indeed the way Russia did things as they banned access to Bitcoin exchanges, before announcing their own CryptoRuble.
Chang says that the prediction that the Bitcoin ban was a power game for Congress may not be entirely true. The current regime seeks to control more of the economy as well as the markets.
"We have seen this up here, there has been a ban on ICOs and the closure of trade and everyone thinks it was on the eve of Congress. At present, there has been an attempt to impose more control not only on the economy but also on the markets, so allowing Chinese citizens to export money is all simply contrary to what the government has done.I think we will see more of this trend after the Congress, but we will have to wait and find out – but I do not think the signs are good for liberalization in the coming months ", concluded Chang.