Honk Kong is becoming a crypto hub today, and many feel convinced that in a year or two, China will allow citizens to trade crypto.

CZ even tweeted images of Bitcoin appearing on Chinese national TV on two occasions.

But did you know that China has banned Bitcoin three different times?

🔸 In May 2013, Chinese bank PBOC issued warning about Bitcoin. This led to a 30% drop in Bitcoin price

🔸In September 2017, China banned Bitcoin and crypto again, and BTC price dropped 50%

🔸Finally, in September 2021, PBOC, along with other government agencies banned all crypto related activities in China, leading to a 20% drop in BTC price.

This is why there are no crypto companies in China, and it was around this time that Justin Sun fled the country.

Will China embrace crypto? Or will they ban crypto again? How will BTC react?