Deng Jianpeng: Normal, benign regulatory logic is not simply an attempt to eliminate the virtual currency market.

Deng Jianpeng, deputy dean of the China Internet Finance Innovation Institute, wrote today on Babbitt that Bitfinex’s huge losses (by the judicial freeze) are real and whether it can be thawed is questionable. In addition, it is certain that Tether is likely to never be able to produce evidence of real bank reserves in US dollars equivalent to its issued USDT. Therefore, he suggested that major exchanges and investors will reduce their share of USDT while expanding the proportion of other stable currency holdings to reduce risk. At the same time, he believes that the normal and benign regulatory logic is not simply to attempt to eliminate the virtual currency market, but to lay the foundation for the future country to better utilize and develop this market. Article link https://www.8btc.com/article/400057