One of the most talked about piece of crypto news these days is the ban of crypto trading in China. As you would expect, this news came off as a big surprise to everybody involved inside and outside the crypto scene in China. No one was expecting the government to make this announcement, especially because of the high trading volume of this country. China had thousands of crypto traders working in the country and this announcement was quite surprising for them. A lot of people were quite confused as they did not know what their next step should be.
That being said, almost everybody involved in the crypto trading scene in China had to look for other options in order to continue trading. The authorities in China has been very vigilant against crypto use. What’s more, the Chinese government imposes heavy fines and suspensions on people who are found trading or mining behind the government’s back. Fortunately, however, many people believe that things will slowly but surely change, although it may take a great deal of time. With the Chinese crypto trading scene taking a big hit, many people thought it would be bad news for Asia’s crypto trading as a whole.
Surprisingly, however, Asia has been doing quite well despite the crypto ban in China. Since China was producing massive output in terms of crypto returns, many people believed that a halt in the country’s trading would damage Asia’s trading scene too. Fortunately, however, things happen to be quite different, as a large number of people from different Asian countries have been investing and heavily participating in crypto trading. Some countries, in particular, like India, Malaysia, Singapore and even Pakistan have proven to be excellent crypto trading spots of the continent.
What’s more, several experts and analysts believe that things in the Asian crypto scene will improve further as crypto literacy increases. One of the main reasons why a large number of countries struggle to make it big in the crypto space is because of their lack of crypto awareness. Fortunately, however, these issues are not as prevalent in Asia as people are quite keen to learn about how crypto works. What’s more, they are doing everything possible to learn a particular currency’s ins and outs, how it operates, how to invest in it and a lot more.
People also expect that Asia could become one of the leading crypto continents in the world if China reintroduces its crypto trading scene down the line. While it may seem highly unlikely for now, crazier things have happened in the world of crypto trading before.