China’s ‘Whack-a-Mole’ regulatory approach is unlikely to derail crypto train

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Seamus Donoghue, the VP of Strategic Alliances at METACO, has said that China’s approach to crypto regulation will not have a drastic impact on the broader digital assets market.

Donoghue underlined that China’s latest move against the crypto industry does not necessarily mean that there will be a ban on holding positions in crypto assets.

He revealed in an interview with Investing.com that while there is a possibility that China’s approach “can have a good deal of success,” the approach is “a little bit of a whack a mole.”

China no longer as significant as before in terms of crypto adoption
Mr. Seamus added that China is going to be less relevant because of Western adoption trends marked by banks and institutions increasingly and rapidly building blockchain capabilities. According to Donoghue:

“China’s is going to be less relevant … as the trend of Western adoption – given all the banks and other institutions building blockchain capabilities – is increasing dramatically and rapidly.”

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