Jeremy Allaire: China May Enter the Crypto Market Full Force

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Is China about to ease its stance towards bitcoin and other cryptocurrencies? This is the sentiment of Circle founder Jeremy Allaire, who says that the country could potentially become one of the bigger players in the digital currency market. Allaire Says the “Stance Is Softening” To say that China has had a mixed relationship with virtual money would be an understatement. The country has outright banned digital currency exchanges and initial coin offerings (ICOs) and is also debating whether to rid itself of bitcoin mining practices due to the potential hazards they present to the environment. However, this is something the country has been going back and forth on for quite some time, and it’s unclear if regulators plan to take official action. That said, bitcoin is not particularly popular amongst Chinese legislators, which is odd considering how much money it’s earned from bitcoin mining and similar practices. Bitmain and…

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