China is banning crypto?

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Yes, it is forbidden, but no one cares about it, everyone still uses crypto
 
Yes, because China wants to control financial risks and support its own digital currency.
 
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.
 
They tried, but I know many people who still own and trade with it.
 
This is perhaps the 10th time them banning crypto. I heard they are strict with laws. Can chinese really not deal with crypto now ?
 
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.
 
musei said:
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.
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I don’t still see the need to ban it because despite the ban, some still access the crypto market using VPN.
 
JB2302 said:
I see some coverage on this news in my feed.

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