A recent article reported that China's outlawing of crypto transactions backfires: more Chinese are turning to underground projects and decentralized exchanges without the CCP's control. Do you see global implications for the crypto market?
You don’t expect the people to give up on the assets they own easily like that. They are going to do everything possible for them to continue with their trading business. This has always been the reaction of people whenever government decides to ban cryptocurrency in their country.
Decentralized exchanges such as paxful.com reported seeing an increase in the number of users coming from countries where Bitcoin and other cryptocurrencies were banned.Some of the countries that have turned to making use of decentralized exchanges include Nigeria, and I think India is also on the list. And the more this continues, the more a lot of people will continue to move to the centralized exchanges.