What’s the real impact of strict crypto regulations on the crypto market? Here’s a quick summary: - Mainland China’s crypto policy has been consistent for 12 years, maintaining high pressure on the crypto industry, and there’s no sign of loosening up anytime soon. - Mainland China’s crypto policy tends to lag behind; actions are only taken when speculation reaches a certain level and starts impacting investors and the financial system. It’s not exactly proactive. - The long-term impact of mainland China’s crypto policy on the crypto market is weakening. From the stats in the article below, you can see that apart from the regulatory actions in 2013, which had a cyclical impact on Bitcoin prices, later actions either had no impact or only very short-term effects. - Hong Kong and mainland China have taken completely different approaches: mainland China is cracking down hard, while Hong Kong is opening up. Mainland China classifies RWA as illegal finance, but Hong Kong’s Hashkey, which uses RWA as its narrative, is about to go public on the Hong Kong Stock Exchange. By 2028, Hong Kong might even start taxing cryptocurrencies. What do you all think?