China is banning crypto?

[nakamura]

I thought they banned it already. I have been to China so many times this year and didn't see anything related to crypto at all.

 

[Shopnil Hasan]

Yeah, it's real. China banned it fully this time.

 

[Rufai]

Anyone confirm about this real or fake?

https://www.binance.com/en/square/post/25122658801602

 

[MehmetOzbay]

Yes, it is forbidden, but no one cares about it, everyone still uses crypto

 

[Snowmng]

Yes, because China wants to control financial risks and support its own digital currency.

 

[Palantiri]

https://www.binance.com/en/square/post/25122658801602

Problem is this is just a blog with no sources. And again to reiterate what others are saying: nothing really new here regardless.
Now when China starts unbanning crypto...let us know!

 

[imccafey]

Okay so China has already strictly regulated cryptocurrency in their home turf. I know they shut down large-scale mining operations and, while not illegal for individuals to own, financial institutions there aren't allowed to deal in them. I suspect China's strong leaning into digital Yuan could mean further pushback and crackdowns on crypto. That said, I don't think they'd ban it outright. Partly because I don't like dealing in absolutes but also it's not really a strategic step in any direction for them to take such an approach. Remains to be seen of course.

 

[ByteZer0]

They tried, but I know many people who still own and trade with it.

 

[ThatOneDaddy]

Could be a coup to get prices down to secure greater purchasing power?

 

[learnandearnwithseo]

This is perhaps the 10th time them banning crypto. I heard they are strict with laws. Can chinese really not deal with crypto now ?

 

[1SEOWarrior]

evenif they make this move, this won't a healthty decision at all.

crypto market is huge. I don't think any country could restrict it. but yes surely they can try to regulate.

 

[ByteRoll]

They actually already banned BTC mining like 5 years ago. At this point I don’t think banning it altogether is viable though, how do you block people from using something thats decentralized as a whole and an easily be traded p2p.

I don’t still see the need to ban it because despite the ban, some still access the crypto market using VPN.

 

[CyberYozh_Official]

How they gonna do that in the first place lol?

 

[BacklinkBeast]

I see some coverage on this news in my feed.

I DOUBT IT IS FAKE.
Anyone confirm about this real or fake?

Yes, China has maintained a strict ban on private cryptocurrency trading and mining since 2021. The government continues to enforce these restrictions, focusing on promoting its state-backed digital currency, the digital yuan. Recent measures include tighter financial monitoring and discussions on managing seized crypto assets, indicating ongoing efforts to control private crypto activities.

 

[solanarocks]

I see some coverage on this news in my feed.

I DOUBT IT IS FAKE.
Anyone confirm about this real or fake?

Yes, they announced it. But it is impossible to ban crypto actually.