If Chinese capital controls for Bitcoin are here to stay....what happens next?

After the FED raises interest rates tomorrow, it's very unlikely that China's central bank PBOC will lift the capital controls on Bitcoin exchanges.

RMB currency devaluation will accelerate when the FED starts hiking, so this capital flight has to go somewhere, and should accelerate rotation into alt-cryptos which are still below the radar, especially Monero for it's superior privacy features vs Bitcoin.

There are just too many leaks in the dam now, and not enough fingers to plug them all:

"Hinting at China’s regulatory future for Bitcoin, PBoC director Zhou Xuedong said that a “forgiving attitude” would be adopted vis-a-vis exchanges, but that “strict supervision” would continue, culminating in a potential licensing scheme or similar legislation.

The PBoC has also released a list of activities deemed “negative” and which will not be allowed.

These include “offering leverage and margin trades,” “producing fake volume and involving market manipulation with the help of zero fees” and “replacing fiat by using Bitcoin to purchase goods.”

Haha good luck with that, I don't think the Chinese people will be as forgiving with PBOC's "strict supervision" aka capital controls: : https://cointelegraph.com/news/china-exchanges-await-pboc-approval-before-resuming-bitcoin-withdrawals