China's self-defeating cryptocurrency ban is unnecessary


Source: nikkei.com nikkei.com

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Rebecca Liao is the co-founder of Skuchain, a currency agnostic blockchain platform for global trade, and served as a policy adviser to the Biden and Clinton presidential campaigns. When China banned all cryptocurrency transactions in late September, it continued to move full steam ahead on its digital yuan and Blockchain-Based Service Network, known as BSN. Is this another example of China's fondness for implementing contradictory policies, or is Beijing attempting to pull off a technical impossibility? Perhaps a bit of both. While blockchain technology underlies all cryptocurrencies, it has many uses in other fields that China is keen to pursue,...