Chinese government’s stance on cryptocurrency has evolved due to the rising geopolitical tensions in the region and beyond. Government news agency Xinhua’s analysis, cryptocurrency especially Bitcoin has the features of an ideal safe-haven resource. China has been historically been against the cryptocurrency and even though the currency is banned in the country, possession is legal. The Xinhua analysis states that since the start of 2019, the intensification of fiscal and trade rows, predictable down-trend of the global economic growth rate and global capital market unpredictability has helped in the successful emergence of Bitcoin. It has all the features of secure
