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Opinion

China's self-defeating cryptocurrency ban is unnecessary

Beijing cannot be a blockchain champion while waging war on the thing that drives it

| China
China's crypto market has reached a stage of maturity where it needs regulatory clarity to attract more capital.   © Reuters

Rebecca Liao is the co-founder of Skuchain, a currency agnostic blockchain platform for global trade, and served as a policy adviser to the Biden and Clinton presidential campaigns.

When China banned all cryptocurrency transactions in late September, it continued to move full steam ahead on its digital yuan and Blockchain-Based Service Network, known as BSN.

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