🧐 What impact does the strict crackdown on cryptocurrency policies have on the crypto market?

@BiteyeCN has summarized this very well, and I also thank Biteye for reposting my content!

My one-sentence understanding of the core of the article: The impact on global cryptocurrency prices is becoming smaller, the safety concerns for practitioners in mainland China are increasing, and the structural opportunities in Hong Kong are fluctuating.

But no one can truly determine the global crypto cycle.

• The mainland's cryptocurrency policy has remained consistent for 12 years, maintaining high pressure on the crypto industry, and there are currently no signs of relaxation.

• The mainland's cryptocurrency policy actually has a certain lag; actions are only taken when speculation reaches a certain stage and impacts investors and the financial system, rather than being proactive.

• The long-term impact of the mainland's cryptocurrency policy on the crypto market is becoming weaker. From the statistics in the article below, it can be seen that, apart from the regulatory impact on Bitcoin prices in 2013, there has been either no impact or very short-lived effects since then.

• Hong Kong and the mainland have taken completely different attitudes: the mainland is cracking down, while Hong Kong is opening up. The mainland categorizes RWA as illegal finance, while Hashkey, which narrates RWA, is about to ring the bell on the Hong Kong stock market, and Hong Kong may tax cryptocurrencies by 2028.

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