TRADERS ARE LOOKING FOR WAYS TO GET AROUND CRYPTO BAN
Campaign against crypto led to the rise of DeFi. It was since September 2017, after first China ban on crypto, that users gradually moved to DeFi platforms or started thinking about other ways to continue digital trading.
“Most trading will stop because of the ban,” said Deng Jianpeng, director of the Finance, Science and Technology Research Centre at the Beijing-based Central University of Finance and Economics. “But there will always be some people who will try to find new investment routes, like using an overseas platform or through decentralised exchanges.”
Many famous figures in economy, finance and crypto trading field have shared their thoughts on DeFi. Henri Arslanian, PwC crypto leader, said that even if using DeFi “may be banned in China, it is very difficult to monitor in practice” because DeFi protocols have different KYC thus give anonymity to users. Miha Grčar, head of global business development at an exchange Kraken, said DeFi is a “bit
