The discussion centers around the FT story revealing Hong Kong regulators pressuring banks to onboard crypto companies, indicating China's pivot towards cryptocurrencies. It challenges the notion that China banned crypto, emphasizing its strategy of exerting control over the industry. China, currently the second-largest global miner, embraces crypto through Hong Kong, recognizing its future potential. The discussion argues that America's crackdown on crypto inadvertently promotes its adoption worldwide, particularly among geopolitical rivals. Major banks' hesitancy to onboard crypto aligns with their interests in maintaining centralized power and their involvement in money laundering. Crypto offers a decentralized alternative, challenging the narrative of "too big to fail" banks. Despite attempts to regulate, crypto's global nature and perceived opportunities continue to attract attention.

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