Is China Opting Out of Crypto? Feat. Dovey Wan

China is getting serious about banning crypto.The market responded with another downfall starting June 21, Chinese miners are reportedly relocating to other countries, including the U.S., and crypto firms are looking for ways to survive in China without serving Chinese clients.

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ABOUT

This week, “Opinionated” co-hosts Ben Schiller and Anna Baydakova are talking to Dovey Wan, partner at San-Francisco-based VC Primitive Ventures.

This episode is sponsored by PumaPay.io.

China is getting serious about banning crypto. In a fresh onslaught on the industry this month, the country has blocked bank transfers related to crypto, and five regions, including the key hydropower province of Sichuan, have shut down the local miners. OTC desk operators are getting arrested en masse and mentions of crypto exchanges are getting censored on social media.

The market responded with another downfall starting June 21, Chinese miners are reportedly relocating to other countries, including the U.S., and crypto firms are looking for ways to survive in China without serving Chinese clients.

Dovey Wan has a good grasp of the way things operate in China, and she aptly unpacks the intricacies of the country’s power structure and the main forces behind the political and economic events.

Listen to the “Opinionated” co-hosts Ben Schiller and Anna Baydakova talking with Dovey about this latest crackdown, what it might be driven by and why it should be taken very seriously. Is China letting its crypto dominance go? How can this change the global crypto market, for good or bad?

Dovey Wan’s Twitter handle is: @DoveyWan.

CoinDesk stories mentioned in this episode:

Image credit: Andriy onufriyenko/iStock/Getty Images Plus/ modified by Coindesk

HOSTS

Dan Ilett

Dan Ilett writes on tech, money and energy. He advises business on digital strategy and technology messaging for large deals. He is founder of Erbut - an advisory company - and Greenbang - a smart technology research company.

Anna Baydakova

Anna writes about blockchain projects and regulation with a special focus on Eastern Europe and Russia. She is especially excited about stories on privacy, cybercrime, sanctions policies and censorship resistance of decentralized technologies.
She graduated from the Saint Petersburg State University and the Higher School of Economics in Russia and got her Master's degree at Columbia Journalism School in New York City.
She joined CoinDesk after years of writing for various Russian media, including the leading political outlet Novaya Gazeta.
Anna owns BTC and an NFT of sentimental value.

Danny Nelson

Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.

Benjamin Schiller

Benjamin Schiller is CoinDesk's managing editor for features and opinion. Previously, he was editor-in-chief at BREAKER Magazine and a staff writer at Fast Company. He holds some ETH, BTC and LINK.

Danny Bradbury

Danny Bradbury has been a professional writer since 1989, and has worked freelance since 1994. He covers technology for publications such as the Guardian.

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