China bans cryptocurrencies

johnpham

Junior Member
Joined
Aug 18, 2021
Messages
191
Reaction score
134
Does anyone know the real reason behind China's crypto ban?
I don't believe the humane reasons their government gives.
Another theory is that they will launch their own cryptocurrencies.
 

Vapys

Power Member
Joined
Aug 17, 2016
Messages
756
Reaction score
486
Digital renminbi, or Digital Currency Electronic Payment, is a central bank digital currency issued by China's central bank, the People's Bank of China. It is the first digital currency to be issued by a major economy, undergoing public testing as of April 2021. Wikipedia
 

TomTheCat

Jr. VIP
Jr. VIP
Joined
Oct 27, 2019
Messages
1,648
Reaction score
1,422
Website
bit.ly
China loves crypto, but they banned it in response to sanctions imposed by you know who. More like a crypto-war. Just my opinion.
 

johnpham

Junior Member
Joined
Aug 18, 2021
Messages
191
Reaction score
134
I know they launched the Chinese yuan. But there is something more international than just within China. because the crypto land is still very fertile for them.
 

leechesBleechin

Senior Member
Joined
Feb 16, 2017
Messages
881
Reaction score
2,201
It's pretty clear threw all of China's most recent laws and actions their preparing for war. Pretty hard to miss.
 

sachinsadevra

Jr. VIP
Jr. VIP
Joined
Aug 20, 2020
Messages
106
Reaction score
40
Website
thegadget360.com
Does anyone know the real reason behind China's crypto ban?
I don't believe the humane reasons their government gives.
Another theory is that they will launch their own cryptocurrencies.
Ain’t so good though, but as it is china, it will do what it wants, no matter what’s the cost!
 

SERPhustler

Jr. VIP
Jr. VIP
Joined
Jul 5, 2016
Messages
1,129
Reaction score
650
Website
www.blackhatworld.com
Does anyone know the real reason behind China's crypto ban?
I don't believe the humane reasons their government gives.
Another theory is that they will launch their own cryptocurrencies.

They will launch their own crypto - this is the only reason I believe. Most of the government in the world is processing it as we speak.
 

alurosu

Jr. VIP
Jr. VIP
Joined
Jun 16, 2020
Messages
1,400
Reaction score
1,144
Website
alurosu.com
China has been banning crypto since 2017. Not news.

Yes they have a digital currency in beta. It's live in a few major cities.

The real reason they ban it is because it represents freedom. The communist party does not like people to have options. The good thing about it is that you can't stop blockchains. People will use it with or without the permission of the leader.
 

k2h2

Banned - Multiple Rules Violations
Jr. VIP
Joined
May 7, 2021
Messages
885
Reaction score
197
Does not matter at all, all we care is that US should support crypto.
 
Top