Many people are discussing Coinbase's decision to open registration in China, but I feel there is no need for much discussion, and the excitement will probably dissipate quickly.

First, before, it was possible to register using a passport and a Hong Kong address; many of us have been using it for a long time during the previous USDC deposit wave.

Secondly, I looked at the registration with a Chinese ID, and it's basically a stripped-down version. If Coinbase cannot be used to connect to the banking system for USD deposits and withdrawals, then what is the point of using it?

Additionally, if you compare Coinbase's fees, you'll see that it is absolutely incomparable to Binance or OKX; it's extremely expensive, and it doesn't have any advantages in terms of coin variety, liquidity, or product richness.

Moreover, since there is no deep-rooted foundation and there are cultural differences in the Chinese-speaking region, it feels like it will definitely be out of place and fundamentally difficult to penetrate the market there.

Determination is determination, and rules are rules; they do not change based on anyone's will.

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