3 ms·
China doesn't need to 100% enforce the law to effectively make something illegal. Even if they catch and prosecute 1%, their justice system is dangerous enough
by smt88 5y ago
China doesn't need to 100% enforce the law to effectively make something illegal. Even if they catch and prosecute 1%, their justice system is dangerous enough that most people won't take the risk.
For crypto as currency, this is effectively a death sentence. If most people are afraid to hold or trade it, you can't use it locally.
It would only be useful to people hoping to exfiltrate value and then leave the country, which is not a majority of people.
- chrischen 5y agoWell tell that to the state employees openly trading crypto as mentioned earlier.
- chii 5y agojust because a few people, in positions of privilege or high risk takers, do it, doesn't mean the majority is capable or willing.
- mathverse 5y agoMaybe not majority but a very high % of people in China would do anything to make money. And it's not just a few people in positions of privilege. It's your regular people working in state corps.