Bobby Lee, ‘BTC Maximalist’: Bitcoin’s Value Is in the Eye of the Beholder
Co-founder of BTCC — formerly the largest Chinese crypto exchange — Bobby Lee shares his thoughts on the uncertain future of crypto in China.
This interview has been edited and condensed.
Recently at BlockShow Europe 2018, Cointelegraph got the chance to speak to Bobby Lee — co-founder of Chinese crypto exchange BTCC and a board member at the Bitcoin Foundation — about what he’s been up to in the crypto space since BTCC shut down last fall.
Molly Jane: In the past few months, Chinese crypto regulations have steadily been increasing, from the ICO ban in the fall of last year, the January ban of “exchange-like services,” and the February ban of foreign exchanges. With your experience working in China in mind, do you think that, in the future, China will ever be more open and welcoming to the crypto community?
Bobby Lee: It’s possible. I’ve said it before and sometimes people would take it the wrong way. I think China has room to change their policies. It could happen within a few months, it could take a few years, it could take decades. China is a mystery when it comes to regulation and policies because of the former government being that kind of government. It’s not very transparent in terms of what they want to do with crypto.
Nothing is permanent in China.
Even the one-child policy, it eventually got overturned after many decades. So, [the] Bitcoin ban, the ban of exchanges, the lack of licensing, the lack of regulation [...] I think that’s here to stay for the short term, but it’s hard to say if that will get lifted any time soon.
MJ: Do you see any countries that are doing it right in terms of crypto regulation?
BL: None of the big countries. Or none of the big, popular, famous countries are doing it right, yet. I think it’s a very tough terrain to navigate, if you will. Some of the small countries who are more risk-prone, they are doing it right. They are doing it by a laissez-