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China May Ban Crypto

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Huang Yiping, a former advisor at Bank of China, calls for a reconsideration of China's ban on cryptocurrencies.

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He believes the ban could lead to missed opportunities in the long term for the official financial system.

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Huang argues for the development of a proper regulatory framework for crypto.

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He acknowledges that there are risks associated with cryptocurrencies like Bitcoin.

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Huang considers Bitcoin to be a digital asset rather than a currency due to its lack of intrinsic value.

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China's central bank digital currency has not been widely adopted.

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Huang suggests considering the pros and cons of allowing private institutions to issue digital yuan-based stablecoins.

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The call for reconsideration came in a speech in December, with a transcript released in January.

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Huang stated that the sustainability of the cryptocurrency ban deserves an in-depth analysis.

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Huang's opinions were expressed during a speech in December and a transcript was released by Sina Finance in January.

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