WHEN THE US ZIGS ON CRYPTO, CHINA ZAGS

Summary from the TLDR Crypto newsletter

This thread attempts to explain China’s strategy when it “banned” crypto in 2021 and its recent embrace of the crypto ecosystem through new regulations in Hong Kong. The piece also suggests that US attempts to curb the crypto industry could drive other nations, particularly geopolitical rivals, to adopt it more rapidly. It further criticizes major banks for being hesitant to embrace cryptocurrency and alleges that regulators and politicians tolerate money laundering in large banks as part of a political game.