Scam and corruption cases spark debate in China over cryptocurrencies’ future | South China Morning Post

The arrest of Chen Zhi, a Chinese crypto scam kingpin, and the seizure of Yao Qian, a former head of the central bank’s digital currency research institute accused of corruption, have sparked debate in China over the future of cryptocurrencies. Analysts believe that while these cases may temporarily affect bitcoin prices, long-term trends will depend on institutional capital, interest rate expectations, and potential US legislation on digital assets.