We do not need China. Crypto currency will go up without them. No one can stop cryptocurrency unless theres a superpower that can stop all internet around the world. It will pause Bitcoin as the life of Bitcoin is in the internet.
Is
DeFi dead?
This will encapsulate roughly 90% of the money in crypto.
Let's look at what
DeFi is supposed to offer:
- Decentralized exchanges (DEXs) - Effectively banned.
- Stablecoins - to be replaced by CBDCs
- Lending platforms - Effectively banned or no different than banks.
- "Wrapped" bitcoins (WBTC) - still around, but limited utility.
- Prediction markets - are there any? Will likely be regulated as a security, in near future.
Is DeFi dead? What good is it anymore? What utility will altcoins like ADA even offer?
It certainly seems like it will be in the
US and Europe if residents don't make their voices heard to stop imminent crypto legislation.