Early crypto mogul says China crackdown may lead to outright ban

Bitcoin mogul Bobby Lee warns that when the popularity and price of Bitcoin soars the cryptocurrency may face bans in China. — Bloomberg

China’s crackdown on cryptocurrencies will probably intensify and may even lead to an outright ban on holding the tokens, according to Bobby Lee, one of the country’s first Bitcoin moguls.

Lee knows what it’s like to be on the wrong side of Beijing: He sold BTC China, the nation’s first Bitcoin exchange and at one point the second biggest worldwide, in the aftermath of a crackdown in 2017.