The assets acquired by Silvergate include development, deployment, and operations infrastructure and tools for running a blockchain-based payment network designed to facilitate payments for commerce and cross-border remittances
Another motive for the restrictions may be to favor the development of Russia’s proposed central bank digital currency (CBDC), as in China
Hong Kong retail investors banned from Bitcoin spot ETFs
The latest announcement dovetails with a speech by President Xi Jinping in October 2019, in which he said the country should accelerate the development of blockchain technology as the core for innovation
