@CryptoSorted
more from that month
China declares all #cryptocurrency transactions illegal... I guess today's dip is paper hands selling their coins because, again, #China calls all crypto-related transactions illegal. According to the Chinese central bank: 1. Virtual currency-related business activities are illegal financial activities. 2. The provision of services by overseas virtual currency exchanges to Chinese residents through the Internet is also illegal financial activity. Is this how every country will fuck crypto up once they have their #CBDC working? Is this how crypto mass adoption ends and CBDCs are the real digital currency of the future? These are just fun thoughts, I'm still accumulating #crypto. SOURCE: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4348521/index.html
3 comments
China has repeatedly banned crypto on a yearly basis 😂. It's just a normal ploy to get it more cheap for them.
And this is the reason why many cryptocurrencies are losing their value. People are very concerned, as this can cause many investors to lose their invested money.
I think the key here is "who is China and what is their aim?" They maintain their power by being largely in control of their people financially. Sure, they have a hybrid economy that incorporates SOME capitalism, just to give a LITTLE leg up to their people. But they still control it. Crypto gives control to the PEOPLE, and that undermines their power. They are simply afraid of losing their power, and THAT is their opposition to crypto.