China bans cryptocurrencies

johnpham

johnpham

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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.
 
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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
 
China loves crypto, but they banned it in response to sanctions imposed by you know who. More like a crypto-war. Just my opinion.
 
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.
 
It's pretty clear threw all of China's most recent laws and actions their preparing for war. Pretty hard to miss.
 
I see this thread every month. How many times China is going to ban crypto.
 
johnpham said:
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.
Click to expand...
Ain’t so good though, but as it is china, it will do what it wants, no matter what’s the cost!
 
johnpham said:
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.
Click to expand...

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.
 
They do that every year now. It helps to make prices go up every year.
 
China is one weird lalaland place, I think this is the 10th times already they ban crypto, I can hear the stories almost every year.

China is unpredictable for sure.
 
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.
 
Does not matter at all, all we care is that US should support crypto.
 
For the 5834737263th time, yes.

At this point, I don’t think we should pay attention anymore.
 
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