ANALISIS KEBIJAKAN TIONGKOK TERHADAP PERKEMBANGAN CRYPTOCURRENCY

Abstract

The development of financial technology arrived at a new form, i.e. cryptocurrency.
Cryptocurrency development with an increasingly widespread network and its autonomous
nature cannot be controlled by the state, which makes China took a policy to block all
domestic cryptocurrency activities. The policy became unnatural when China occupies the
top position in the emerging global cryptocurrency market. The anomaly is interesting to
study further to find a motivating reason for China to take a firm policy while it is in a safe
position as a center for global cryptocurrency production and transactions. In order to
explain these reasons, the theory of national interest and rational choice are used as the
main tool in analyzing the issue. The theory of national interest and rational choice
explains that the policy taken by China is motivated by the economic and security interests,
as well as the rational calculation of the advantages and disadvantages of that policy