Denver China and the US are vying for control of the $ 2 trillion crypto market. Beijing announced new, severe restrictions on trading digital currencies on Friday. The so-called prospecting, which is necessary for the operation of blockchains, has also been banned. Regulators in the US want to introduce a whole range of new regulations that could threaten the very existence of a large part of the industry.
The rapidly growing crypto world is now in a power struggle with the authorities. For a long time, the crypto industry was able to grow without much resistance. But now the sector has grown so large that it can no longer be ignored by supervisors, central bankers and politicians.
Who will win the power struggle is open. Proponents of the decentralized financial system like to point to the core qualities of blockchain technology on which cryptocurrencies are based. It is deliberately designed in such a way that it cannot be so easily restricted and switched off from a central point.
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