One of the most talked about things these days in the world of crypto is the ban that the Chinese government imposed on crypto trading. In most cases, people did not take kindly to this decision and there were loads and loads of protests going around.
One of the reasons why people did not agree with the Chinese government’s decision was that crypto trading and investing in China was at an all time high. With a decision as abrupt as this one, traders and miners were left with a fair bit of confusion.
In most cases, they did not know what to do because moving their crypto trading and mining operations within a short period was next to impossible. Sure, they could still pull it off, but it would be quite challenging. What made matters even worse was the fact that the crypto scene in China came to a complete halt.
Nobody was expecting this to happen in China of all countries, which caused a great deal of confusion among traders and investors. What made matters even worse is that no one knows if crypto trading would ever return to this country.
As soon as the Chinese government implemented the ban, a large number of crypto miners and traders who were operating in this country left immediately. In most cases, these people went to nations where crypto trading and mining was safer. Texas, in particular, is an area where a large number of crypto miners have gone.
One of the biggest reasons for choosing Texas is the state’s crypto friendly environment. Believe it or not, America has been quite lenient when it comes to the matter of mining or trading crypto. It is a big reason why more and more crypto enthusiasts are setting up shop there.
That said, the biggest question that people have been asking these days is if crypto mining or trading would ever come back to China. Unfortunately, the answer people have been getting is either too negative or quite vague.
For now, it does not seem like crypto trading would be coming back any time soon. This is because there are a large number of people in the government of China who are completely opposed to the idea of trading or mining crypto. Most of them believe that this digital currency is not sustainable for the future.
That being said, the world of crypto is incredibly unpredictable and stranger things have happened over the year. A large number of governments across the globe have changed their tune about crypto and it would be fair to say that the Chinese government could end up doing the same.