China has revised its national defense mobilization law, effective October 1, to enable the transformation of the civilian economy into military power. The new legislation authorizes, for the first time, the expropriation of equipment, data and software, targeting all critical sectors from transport to telecommunications. This revision represents preparation for a potential conflict over Taiwan and a regime of massive sanctions, with China’s three major oil groups having invested nearly 343 billion dollars in energy security over a decade. For Bitcoin and cryptos, the impact would be contrasting: in the short term, a major conflict would trigger a risk-off wave and mass sell-offs, but in the long term, a durable sanctions regime would strengthen the thesis of Bitcoin as a non-confiscatable safe-haven asset. Taiwan is also considering establishing a strategic BTC reserve.
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