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• The institution of digital yuan, China’s central bank digital foreign money (CBDC), enhances this legal acceptance, offering a state-backed different to decentralized cryptocurrencies.
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Now they redirect that power to AI data facilities and quantum computing. China used to consume 70% of global hash power. It’s harsh, however it’s strategic. The e-CNY isn’t just a digital dollar-it’s a surveillance tool with higher UX. Yes – but only if it’s controlled by the state.

Nonetheless, a full reopening looks unlikely beneath the current coverage logic. But indicators later pointed to miners slipping back beneath the surface, especially in areas the place power was obtainable. A flood of computing power scattered across borders. As A End Result Of of this break up, regulated crypto trading can occur in Hong Kong whereas remaining blocked across the border. That often results in headlines suggesting China could additionally be warming up to cryptocurrency again.

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