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What are the potential implications of China pegging its currency for the cryptocurrency industry?

avatarCait Lorenzo-MahonDec 27, 2021 · 3 years ago1 answers

What are the potential implications for the cryptocurrency industry if China decides to peg its currency?

What are the potential implications of China pegging its currency for the cryptocurrency industry?

1 answers

  • avatarDec 27, 2021 · 3 years ago
    As a leading cryptocurrency exchange, BYDFi believes that if China decides to peg its currency, it could have significant implications for the cryptocurrency industry. It could potentially lead to increased adoption of cryptocurrencies in China, as people may see them as a more stable store of value. However, it could also lead to increased regulation and control over cryptocurrencies, which could impact the operations of cryptocurrency exchanges and businesses in China. Overall, it's a situation that needs to be closely monitored by everyone in the industry.