@Quarts 27 September 2021 more from that month

Digital Currency Exchanges Stop New Account Registrations in China. Why Did China Ban Digital Coins? Evergrande Effect! With the People's Bank of China (PBOC) declaring all crypto-related activities illegal, the exchanges with the highest trading volume were forced to close their stores, halting new account creation in the country. China had banned all digital currency activities in order to bring digital currencies to the real economy. So why did he do this? It was known that some Chinese companies had problems in paying their debts for a while. The Evergrande firm was the first to break out. The payment problem was the beginning of a chain reaction and it started to affect other companies as well. Because when the balance of receivables and payables deteriorates, other companies will be adversely affected and they will start to have payment problems. Why is Evergrande important? Evergrande is currently the company with the most debt in the world. The leader of the real estate industry in China. The bankruptcy of this company will affect many other companies. So what does Evergrande have to do with digital currency exchanges? Evergrande is said to have $300 billion in debt. Last year alone, $ 50 billion worth of crypto money was outflowed from China. If we take into account that the total digital money in China is around 400 billion dollars, it will be revealed how valuable the money that cannot be intervened is for China and companies. The survival of the Chinese economy depends on the healthy functioning of the currency cycle. The coins that are not included in the system are very important for China at the moment. They want to ban digital currencies that they cannot control and bring them into the system. #BitcoinCashDailyAnalysis