China is a country well-known for its support toward the ‘blockchain not bitcoin’ narrative. The country attempted to clamp down on cryptocurrencies more than once, but it appears that it’s now softening its stance, even taking a somewhat positive approach towards Bitcoin.
Speaking at the Boao Forum for Asia on April 18th, the former central bank governor of China, Zhou Xiaochuan, and the current central bank deputy governor Li Bo opined on the matter of Bitcoin and cryptocurrencies.
We believe that crypto assets should play a major role in the future, either as an investment tool or as an alternative investment. Many countries, including China, are also studying it as an investment tool.”