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DeFi with Chinese characteristics Finxflo’s CEO explains how China is centralizing crypto finance

DeFi with Chinese characteristics Finxflo’s CEO explains how China is centralizing crypto finance

CryptoCurrency Trading Idea

6th October 202010:16 am

DeFi may be too big of an opportunity to pass up for the Chinese government, despite its decentralized nature and Wild West reputation. One solution that China may be exploring: absorbing DeFi and turning the industry into CeFi — “centralized finance.” “The [Chinese] government is going to be taking a very, very close microscopic look at exactly the DeFi space,” said James Gillingham, co-founder and CEO of Finxflo. “They want to be able to essentially create capital controls, inflows and outflows out of China.”

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James Gillingham
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