Bitcoin Forum

China declares all crypto-related transactions illegal and forbids overseas exchanges from serving its citizens.

The PBOC said all crypto-related transactions are not allowed under the law.
Activities considered illegal cover a range of operations, such as buying and selling virtual assets as a central counterparty, and providing intermediary or pricing services for crypto transactions. It also includes token issuance financing, crypto derivatives transactions, and other activities suspected of illegal sale of tokens.

"Those who carry out related illegal financial activities that constitute a crime shall be investigated for criminal responsibility in accordance with the law,"

China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."

How will this impact Bitcoin and other cryptoprojects?? What do you think guys?

It won't impact the market that long, what China left behind in demand will eventually be filled by other countries in the near future, plus they've been out of the game for almost a year already and this ban is just the final nail in the coffin.

Of course it is, that is what socialism is all about: The State is supreme. Bitcoin circumvents the State, so this is the natural reaction. The central bank is the natural enemy of Bitcoin, because Bitcoin makes banks and central banks obsolete. However it is a technology, so its like banning electricity because it may end the job of the gas lamp industry.

In this case it is very clear: Bitcoin removes the State and Banks power over money. Let it be, the wealth they reject will flow elsewhere, in the end they cannot stop it, no matter what.

That might be true, but the risks to individuals in mainland China is extremely huge if one is considered to be an enemy of the people, state and party. That is not going to be a fun ride to puy it mildly.

In any case this takes away a lot of the potential crypto could have had in the future and will probably cause a reaction in the next weeks, months and maybe years to come.

Op, it would be nice to link the source material, so that people don't have to rely on your words or go google the news themselves. From a BBC article (https://www.bbc.com/news/technology-58678907), the information sounds serious, but the only thing that gives hope is that it's the central bank's statement. I don't know how it works in China, but normally it's the Parliament that decides what's legal and what isn't, and a bank can make guidelines which are not legally binding and express opinions which don't necessarily align with the state's authorities' official position. Since China isn't a democracy, the central bank there probably holds more power than it normally does, but I still have doubts whether this bank's claim that cryptos are illegal actually means that they are illegal.

Sounds more like: Cryptocurrencies are giving the citizens some level of freedom and control over their finances as they should normally be able to do, but they can not because we want total control to allow us manipulate our economy.
Bitcoin challenges the control the state has over the citizens, checking the trail of governments which are hostile to cryptocurrencies, you will discover they are anti freedom and undemocratic.

If I can recall correctly, China experiences one of the largest emigration of wealthy people and businesses as most can not cope with the system of governance, same would likely happen here, i.e bitcoins moving out as we saw with mining gear, it would limit grassroot adoption, but would also redirect the Bitcoin enthusiasm to other parts.

What a surprise, a country who puts people who don't believe in the same religion that they want or god forbid they like a member of the opposite sex, you get put in camps..in 2021 mind you.  I personally fucking hate China as a whole.  Don't get me wrong I know there are some good people there but overall they are a bunch of scumbags and run their country like we are still in the medieval times.

Didn't China already banned cryptocurrencies few months ago ? What's different this time ?
This Country has repeatedly restricted the use of cryptocurrencies and it doesn't impact cryptocurrencies in the long term now.
From what I read on Cointelegraph an old announcement from China is getting viral on social media causing the sudden fall in bitcoin's price.
I think this is just temporary and in just a few days we will be able to see the bitcoin back above $45k range.

Yes, the difference is that they are finally closing the door, which is what everyone was expecting from their CBDC. Remember CBDCs are the same or worse than fiat money, well there are also the altcoins pegged to those...

But OF COURSE the State doesn't want people no longer depend from the State. Whats next, THEY becoming redundant?

It does not matter that the Communist Party of China does not recognize crypto. It is accepted by the rest of the free world. Although they are intelligent and well-reasoned, they have something planned for the future. Their crypto ban is meant to ensure their population relies exclusively on their central bank's digital currencies. Are there any limits to how many times China can say it has banned or will not accept cryptocurrencies? Like people say, China does this all the time in order to manipulate the market more so they can buy up at lower prices. It won't last for long.

Another FUD from China. Each year, we have multiple FUD from China.

Do people think that if Bitcoin, crypto market moves away from China main land, it will be better for all?

It is what happened. The mining crackdown in April and May help the hash power migrates from China mainland to the USA., Ukraine, Kazakhstan, Russia, etc.

Generally, Bitcoin grows after many FUD from China.

https://twitter.com/geenty/status/1441403448562388994
https://twitter.com/gaborgurbacs/status/1441371865625206792

Will be interesting to see how many people in China continue to use it anyway.  I'd continue to accrue BTC if my country banned it. 

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China has a really peculiar brand of socialism, though.  They absolutely have an authoritarian regime, no arguments there, but it's not exactly conventional socialism there. 

If we look at this picture, it looks like there is a pattern that was deliberately carried out by China. It can be seen from several events that occurred after BTC reached its highest price or before it started to rise. According to some analysts I found (forgot the source), BTC is currently in a decline phase, but if it drops below 28K, maybe we will see BTC go down and enter a panic psychology that increases dumps.

Bloomberg Publishes Fake News on Bitcoin as China Prints $100 Billion
https://www.trustnodes.com/2021/09/24/bloomberg-publishes-fake-news-on-bitcoin-as-china-prints-100-billion
"Bloomberg, the anti-bitcoin publisher of the pre-internet age, has sent out outright fake ‘breaking news’ that sent bitcoin’s price down by $2,000 from $45,000 to $43,000."

Communists are not always to blame, sometimes cunning businessmen are to blame.

I guess i just have to believed that this is their own way so they can manipulate the market and take advantage on it. But this is not surprising anymore, as they keep on banning crypto almost every year even though restrictions on crypto have been implemented from its previous years. And knowing China is an authoritarian, so as much as possible they will control their people from accessing crypto and doing any crypto-related transactions. This shows how important to them their own currency and that crypto will never have chances to be integrated into their own country like some of the countries do.

Of course people will continue using bitcoin behind a shield as they used to do. This ban will affect small users and investors, hard wallets market...
The mining activity is already dispatched to several countries, same goes for businesses related to cryptocurrencies.
It is unfortunate for Chinese citizens :-\

I think that we keep reading the same news. China's reporters announce that it became illegal once again. They, then illegalize mining. Price drops temporarily. There's fear for a week. The #Bitcoin hashtag becomes relevant in Twitter and most of the verified Bitcoiners spit some wise words and why Bitcoin cannot die.

It's a loop and I hope China someday realize that if they want to retain their socialism, they'll have to either cut off their internet connection or accept the fact that Bitcoin is going to affect their economy one way or another due to the fact that it's available in capitalistic nations too.

Is this news too stale for us to digest, Shouldn't we all move on from what they have done? China is not the only country we have to beg to re-adopt Bitcoin. Even without China Bitcoin will still run as it should. the level of demand is increasing and it's not from China. So it would be better if we stop saying that China plays a big role in Bitcoin's future mass. We will deny China as they have denied the existence of Bitcoin.

I feel sorry for Chinese citizens who are into crypto because there are lots of hindrances for them to adopt or even do crypto transactions. It might affect the market for a while but I believe that it could still recover soon since more countries are now accepting cryptocurrency.

It's all a matter of what consequences you're facing.
If for example Norway would ban bitcoin and the fine will be a few hundred krone probably not that many people would care, if the county banning it is China and the punishment is 20 years in prison or even worse then the percentages will reverse. And it's not only about the punishment but the mistrust that somebody will give you away, nobody will hunt bitcoiners in the Western world, but when it comes to surveillance in China, that's a different thing.

Besides, I'm rather curious how many people were actually using bitcoin at this point in China.


Bitcoin? Very little to nothing.
Tokens? That's a lot different, tokens have no real usage other than trading, pump and dump schemes, and everything else, and Asia and even China was a major player in this, more than the western world, so the altcoins will feel the burn more.
I'm really curious to see what Vietnam's stance will be after this, it will be interesting, the same communist structure but at the same time more different approaches from more rigid to more flexible depending on the areas, if they do choose the same approach it's clear every dictatorship authoritarian regime will follow.

Its not only socialism which consider Bitcoin as enemy, its same in capitalism also. Sooner or later we have to see this reaction from central authorities and with growing popularity of bitcoin we hear it in 2021. China did somewhat same in 2017 and it bought BTC dip, I take this a buying opportunity rather a moment to curse governments.

Yes and again water is wet so what is new there, China just use this same old trick and news to manipulate the market when they want to get into the market. Did they not ban it in 2017 so what is different now. China needs to realize the market is bigger than them and their stuns would not work this time.

The market is now more mature and even though there'll be a short teem panicking, that would not last long. The market always recover and trade at a more higher price, this time would not be any different.

Did the big Chinese firewall stop people from bypassing the firewall and using sites that are blocked? No it did not... they used several methods to bypass the firewalls and they will do the same with bitcoin transactions.

We saw this coming when the Chinese government "banned" Crypto mining, so it is not a big surprise. The impact will not be significant, because the price was not really influenced when they banned Crypto mining.  ;)

The Chinese government have been about this for sometime now and each time they try, they always find themselves in the same pithole they thought to have left off. Just a lot deeper than  before. At times I get to wonder if they would ever learn and its left for the crypto community to prove this sad reality to them that, we are all satoshi and satoshi is Bitcoin  which implies that, bitcoin is the people.

Trying to obliterate cryptos, which is clearly represented by bitcoin is like trying to infringe on the people's right and that is sure not to yield any good result because, the people will always tend to exercise there rights.

It would be a shame when the bitcoin finally stands and the Chinese government would find out that, they have been a limited factor to the progress of its citizens in this way.

All I see is China going backwards and hurting itself out of confusion. What about all the bitcoin hodlers in China? Now they can't sell their bags, the bitcoin have become sort of "frozen", from a perspective of market value, this is only going to increase the price of bitcoin. So ok, thanks China. At some point China will pull an India and become part of the bitcoin fanclub again.

It's unbelievable that the goddamn Chinese government once again had an influence on the price, what the hell is this market that is still being manipulated by the Chinese government to this day, it's amazing that people let themselves be manipulated by that goddamn dictatorship Chinese government, who the hell on earth Are still crazy enough to delude yourself that the Chinese government would accept bitcoin and altcoin? who would still believe that? china cannot be trusted. unfortunately we still have many naive people in this market

At this point, no one cares at all to be honest. Their ban I doubt would have any affect in the market at all. This was announced few hours ago and we haven't seen any major changes in the price. The Chinese government wants to have full control over their people. Now if their people doesn't care, then we shouldn't too. I mean, if their people were against this ban, they would have already start protesting it. But looks like they are fine with it. Did they really say "endangering the safety of people's property"? Lol. What a joke.

China will always be selfish as it is. They hate bitcoin but they even plan to make their own crypto. How ironic! But this decision will create a negative impact into their crypto hodlers so it might be hard for them to sell their coins in their own country. So i guess this will pave way for India to be part of crypto again. I just thought will there be another banning of crypto again by next year? Because China seems to really love doing it again and again.

China have a pretty sophisticated quantum network and if they wanted to use it to hack the blockchains they most prob could and cause a lot of problems for Bitcoin or other tech using blockchains.  If the blockchain does not change pretty quickly quantum computers will be a huge security problem in the near future.

This stuff is technically old news, there are some documents floating around by some financial regulator or agency that made their intent to ban crypto clear earlier this month. The crypto market is already down a bit and it's not reacting too badly too all this, if at all, so we all recognize the bluff. China's crashing economy is more of the concern here, which would cause a bigger dip in the price than this failed attempt at curbing crypto growth.

My main concern is in the future when China becomes desperate to protect CNY, they'll begin extreme enforcement measures.

China banning bitcoin is not a surprise at all, Type of state of China is they can't give this much financial freedom to their citizens.
China can make it illegal, but can't ban it, Crypto is unstoppable.

If we've been in space long enough but didn't anticipate a move like this, then don't invest in crypto at all.

China is an example for other states. If China did it, India, UK, USA can do it to.

If the government makes crypto illegal and hard to buy, the average Joe isn't going to touch it due to fear of breaking the law. I'm not saying nobody will buy crypto illegally, I'm saying the AVERAGE person will not
and many will just move to stocks for their investing needs.

I heard about the news and I must indicate that I'm surprised to hear this again. Because as far as I know, China has already banned cryptocurrencies. This felt like the news is just repeating itself. China has done this but I don't know why they are afraid of cryptocurrencies this much. They should already be knowing that cryptocurrencies mean no harm for the main currencies of countries.

Though I would say it has a big impact on the market, but we are getting used to it already, China is not a bitcoin or crypto-friendly country, they have a different style of government, so we just have to accept the fact that they will not support bitcoin.

But, look at the market on how big we are, FUD is normal, we should be thankful it happen soon because we still have the last quarter to recover but always prepare for a possible huge dump as it might have a temporary effect especially if the whales will try to ride and manipulate.

I think the Chinese government are scared of allowing its citizens have total control of their transactions the just want to be involved in every single transaction making everything centralized. But I think this would have little impact on the market and this would be a sad news for exchanges and many might have to relocate to carry out their businesses

https://www.linkpicture.com/q/FB_IMG_1632519691503.jpg (https://www.linkpicture.com/view.php?img=LPic614e469f146a4167392802)

This is not the first time I am hearing this type of news from China. Whenever market goes up or market try to recover from a recent dump China always publish a negative news. People are used to with it. I think in future this kind of news won't effect the market anymore.

Yes, Everything that has happened was just leading to their most recent announcement. This China fud would only have a short term effect on the market and after that we should be able to resume our long term bullish trend. China government has always been against crypto basically because it's something they've not been able to control or wrap their head around. The space is on a different level with each passing day.

Someone should do an analysis of the return on investment you’d have if you purchased Bitcoin only when the news that China was banning it came out. At this point, it seems like China is the boy who cried wolf when it comes to Bitcoin. It’s possible culture differences could be at play here as well. It could be that China is reaffirming their stance as I don’t believe the Chinese are going to stop using Bitcoin suddenly.

Still waiting on them to release their own digital currency to "compete" with all other cryptocurrencies. This is likely not the last cycle we will see of China banning Bitcoin and stepping up enforcement but is just another step in that direction. My only real concern is if and when they will try and crush the ASIC miner producers within the country. I am actually shocked it has not happened yet since they are well aware of their locations and production facilities. I would imagine that would be the last step for enforcement.

China very often makes bad news about Bitcoin and Cryptocurrencies, and usually this has a big impact on the Bitcoin price. A big drop is imminent, and this is sure to be used by the big whales to buy Bitcoin in bulk.  Our advice if there is a big drop in the price of Bitcoin, we don't need to panic and don't sell your coins cheap. 
Remember that this kind of incident doesn't just happen once, and after that the Bitcoin price will definitely go up again. Keep calm with bad news like this.

How many times did China make a move like this and yet, bitcoin thrives? Bitcoin may drop but it will go up again. They are not the determining factor here whether bitcoin survives or not. If other countries are more welcoming with crypto, it seems that China is moving backwards in terms of crypto. Anyway, crypto activities will move forward even without them.

Every month, this country will release bad news about crypto. CHina always bans crypto from the start.
China will never support crypto because there are too many because of the many interests of the country and also various political elements and power there.
Now, everything about crypto is banned and illegal, as long as they are not touching this crypto world again, no worry, I know that this will give a bad impact on the crypto market. But it's done. It should be done and enough with this country if they state about legalizing all crypto activities in that country. DOn't even believe them again that someday they will legalize crypto, because maybe someday later, they will ban again it as they like.

At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.

The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.

To be fair illegalities and crimes existed before crypto existed and it will not stop. Yes, crypto might provide yet another avenue but it also brings so many more benefits.

China is taking a harsh approach to crypto and it is possible that all this FUD is calculated and preparing the population for their own version of digital currency - it makes sense because it eliminates all direct competitors available in crypto and it would be interesting to see what stance they take on then.

God I hope not, but given that China's foreign policy doesn't really involve meddling too much with the internal affairs of a country they're allied with, I think it's unlikely that it will ever happen, they want to be the opposite of USA when it comes to foreign policy after all.

China's attitude towards cryptocurrency has always been a boycott and prohibitive attitude. Don't understand why they banned Bitcoin, what good is it for them? Just because Bitcoin is not controlled by the government? But China has a great influence on Bitcoin.

I agree with you and I believe it is just a matter of time and after China has fully finished all their attack on Bitcoin and the general cryptocurrencies in their country, Bitcoin and all other cryptos will become normal as there might be no more FUD coming out of China.


True, I don't think that will be the case. I believe the way we have more Influential investors like Billioniers and other bigger Institutions investing in Bitcoin from other parts of the world can not be said for China, so I am guessing this will not likely happen in other countries as it is with China. 

Actually i'm already immuned when china bad news are spreading because it was repetitive every year, since 2018 china crypto bans is always make the market crash but it will still recover eventually.
So i think this china news is not really work for people who already investing in crypto for years because it must be not their first time to see bitcoin or crypto ban in china. So we will keep holding our coins, and buy more with a cheap price if we have more free money.

If this is true it will definitely have a bad impact on the value of bitcoin, because China is a country that is very affected in the trading system, but the power of bitcoin has expanded around the world so this is only a temporary decline and the price increase will continue to occur in the future, and also the news spread is not necessarily officially issued by the chinese government so it still has a high possibility that the country will not ban crypto forever, Especially for now many other countries are deeply concerned about the crypto world and they want to use it as a legitimate means of payment, so we don't worry about the current news.

China’s scrutiny and regulatory interests have popped up several times in the past eight years—and generally, that has resulted in a sell-off. Case in pointt: The price of Bitcoin fell few% to $42,200 on the news. But when the news cycle is over, inevitably, crypto prices have started to rise again.The storry from China has been fairly consistent through the years.

This is the situation. I see a lot of gray industry chains in China using cryptocurrency transactions. This is a factor that greatly affects the economic security of the people of a country. No country wants to see the gray industry grow in its own country, even if China does not suppress encryption. I think there will be a second policy issued by China!

Yes, China is currently declaring crypto completely illegal. It seems like this has been happening for a long time because I've also heard about money laundering by exchanges in China. Since then, China has begun to restrict the circulation of cryptocurrencies in the country.

I really hate China's policies to suppress cryptocurrencies. This has a great impact on the crypto market. As we all know, China is a superpower in the crypto field, and China's policies affect all people who buy cryptocurrencies!

It's not surprising if it's true, because they already created their own digital currency since they ban crypto mining within the country, probably 4 months ago if I'm not mistaken . So this is the end of cryptocurrency in china, i mean no more problems when it comes to them. Lol for me in my opinion that's a good move because you know china is always the main reason why bitcoin and crypto market always going dip.. So this time after this for sure market will not be the same before..

Will this impact BTC? maybe a bit, but nothing to be worried about. China banning crypto is nothing new and has been proven to be not doing significant damage to the community.

Although regarding the policy in china, it is understandable, maybe, that they are banning it because they have a government who is communist yet the president holds the power. And decentralized assets is not a good thing to exercise if the country wants full control over its citizens.

So prepare for the dump just in case BTC gets the impact of that news. But that will not make BTC stop increasing someday because BTC is too strong and not getting impact too much. The dump will be the best time to accumulate more bitcoin to wait until the price increase later. Maybe China will regret it someday after they ban bitcoin. Or they want to buy bitcoin at a low price so they spread that news to the public and make people afraid and sell their bitcoin. That will make sense to understand if their reason to release that news is because of that.

China's influence in crypto is very strong. I hope that with China having this controversial policy, we can take full control of crypto as soon as possible in another country so that the crypto market will recover. and the hope of all investors to be able to avoid China's unreasonable policies that only cause losses.

all types of crypto are declared illegal in China, maybe this will be the beginning of destruction between the government and their people, it can be said that their government and people have started to be out of sync, because we know the Chinese people are the first to play crypto, if the Chinese government forbids it all forms of crypto in their country, most likely the relationship between the government and the people will start to drift apart..

The government is afraid of what they cannot control so in order for it not to spread furthermore in there country, they immediately ban it. Also, as mentioned, they keep on manipulating the market price. Its so hard to do things when the government is watching what ever they are doing. People will  get tired of this news eventually and neglect it.

it can be said that the state is higher than everything, the government has the right to do whatever they want, sometimes the government will also make every effort that they think is the best, and sometimes the government also makes policies without discussing with its people, that's the government, even though the government makes decisions what is wrong, and harms the people, sometimes they don't care at all, because what is important for the government is their own stomach..

It's true, and also so disgusting at the same time. Why people should live in fear? Why deprive them of their basic rights? Only because you want to stay in power longer hiding behind communist ideas, pretending you are all for the absence of social classes, while being elite yourself? I hope this repulsive behavior of the Chinese government will result in nationwide revolt.

what do you think will happen ? common sense , china is a huge country and has a huge influence in cryptos so if crypto is banned on thier country , people cant buy cryptos anymore . its either the price of cryptos will now be more stable or will fall down if ever china people have given a chance to sell before the ban happens  .
not only that but some people outside china will also worry and sell too but lets not be like them because cryptos will surely recover soon or the ban will get lifted again.

China will not long to change this mate because their people will seek way on how to use crypto because this is already part of their daily living lol.
strong in what sense? do this news really affect the market that bad? nope it is not that large meaning china already dont have that big influence in crypto now.

They said that the cryptocurrency market and Bitcoin price have been affected deeply by this news. But I don't see anything like that. Bitcoin price is still at $42k level. People should understand something that the market is not affected highly by this kind of FUDs anymore. For example, the reason of the big dump for Bitcoin price from $52k to $42k wasn't any kind of FUDs. It was just about the high volatility, the character of the coin I mean.

Every time they ban Bitcoin the usage in China increases not decreases I do not understand why they continue to think that this is helping them. If they do not want people to use Bitcoin then maybe they should lessen their restrictions on the people of China and allow them freedom and then they would not seek alternatives. I hate how China controls the population but what is funny is by banning Bitcoin again they are giving it the spotlight in the news which increases adoption. Do you think that the Chinese people listen to the government? I do not know one Chinese person that does not use a VPN to get around their restrictions and I do not know one Chinese person who will listen to this ban and will continue to use Bitcoin.

I see Bitcoin is running normally, there is no impact at all due to China banning crytocurrency transactions in their country. Cryptocurrency is a wonderful technological idea and as a financial freedom solution for users and investors in it provided they have skills in trading. China as a country has its own reasons for banning crypto, I think it can disrupt the country's finances and worry if fiat falls if crypto is legalized in their country.

Personally speaking I do expect that this declaration of China about all crypto as illegal will greatly affect the market of bitcoin but we see that the bitcoin market price sitting safe at  $42k. It made me realized that bitcoin market were not easily affected by this kind of news though it will always have a feedback or impact maybe we could see it sooner or later but comparing on the bitcoin market wayback 4-5 years ago, bitcoin market now could strongly accept the FUD without greatly affected the market.

This is not a surprising decision for me. China has already been against any kind of cryptocurrency activities. They banned cryptocurrency mining first. Now, they started making cryptocurrencies illegal. They are completely against especially the volatile cryptocurrencies. They don't want their people to risk themselves by making investments into them I guess. But it should be left for people's decision I think.

That's right, China doesn't have the slightest influence on crypto. The fact is that until now the opposite has happened to China that China is lagging behind in the development of crypto technology. Crypto stability is not determined by China, unless countries around the world issue rules not to use crypto, this will have an impact on the development of crypto. But this is impossible, the evidence is that El Salvador has made Bitcoin a legal tender.

There is and will always be a Chinese shadow industry (black market, etc.) that deals with cryptocurrencies underground, crypto ban or not. It's unlikely to affect the average Chinese citizen as they can always switch to using them instead.


China doesn't have as much influence ever since they kicked crypto miners out of their country.

Cryptocurrency ban affects only crypto companies with headquarters in China and miners. The promotion of cryptocurrencies will be completely banned on social networking sites in this country.
Telegram will be the next social network that Chinese people turn to access cryptocurrency.
The Chinese government's ban is not new, and its influence is not as strong as in the past. I believe that the FUD news from China is losing value, no one will care about crypto bans anymore.

The impact that is felt, of course, exists, but only Chinese citizens who play crypto are affected, but globally it will have absolutely no impact. China's war on crypto hasn't happened in 1 or 2 days but it's been years, China actually really hopes that other countries can follow in their footsteps to ban crypto but it doesn't happen "Lol

Because now crypto market is familiar with decision's like this from China it's not happening first time they're already doing this job every year but still many peoples trading and investing in this because they feel much better and independent in stick communist hold country with this crypto.

After this news now I am feeling better because it's end of crypto for China, and we will be some better because now China factor will not affect overall market now we have some very good mass adoption which is working very positive for crypto and bitcoin hopefully this will more help for better way of crypto market.

It's just a huge excuse for them to mention about the illegal crime activities that involved cryptocurrency, it's such a weak alibi that they didn't even hesitate to put it in their statement, also, China's population is enormous, 1,411,778,724, the impact may not be huge considering the government of China being against crypto ever since, the impact of this to the market is not that enormous, but the impact of this ban to chinese citizens or at least the people who live in China is what impacted the most, they'll have to withdraw or exchange their bitcoins, or else, all of their efforts are wasted, I'm pretty sure before the ban was applied, there was a heads up, but if there wasn't, then that's quite unfortunate.

Why China always show disinterest on crypto so much that they always declare it on the news all the time! Why they like doing this, Is crypto such a big threat to their economy that bad they are compel to always have bad publicity for crypto! It is really becoming very boring to constantly read about such negative news from China all the time, my wish is to see the crypto community going stronger without their influence.

China are known for controlling their population with strict laws they cannot access most of the internet unless they use a vpn but the problem is they find it hard to get access to a vpn because most providers websites are blocked. I do not know why China keep unbanning and banning China instead of keeping it banned but I guess they are trying to destroy it by creating uncertainty but as we know Bitcoin will only be effected in the very short term of this news.

China played a big role in the early days of cryptocurrency existence. In that way China is a backbone to the cryptocurrency network that has got widened as a big market at present. If they haven't made some initial steps and made strict laws against cryptocurrency usage now we could've never seen this big growth with cryptocurrencies.

At present when someone is leaving the market, there is always people ready to take the same position. So, China's ban won't be making big impact in the long term.

i think this is only a FUD so that china can buy the dip again. if i remember they also did this some time ago and still after a while they still allow it, this is just some of their strategies to monopolize the bitcoin supply so that when it comes to resources they have the upper hand than most countries do.

Yeah... it looks like that. China has crashed the exchange rates at last a dozen times since 2013 and in none of these instances the impact lasted for more than a couple of months. A few months back, they had cracked down on mining, and there was minimal impact on the network. Miners simply moved their equipment to neighboring countries like Kazakhstan. At this point, I would say that China needs Bitcoin more than the other way around. And unfortunately they are taking a stance which is diametrically opposite to the one they took in 1990s. Back then, they encouraged hi-tech companies to invest in China and that resulted in enormous economic growth over the past 3 decades.

It is true that many times we do not see or understand the real imaginary, they blame others for their interests so that people do not look at them.  They arrange everything in such a way that no one can understand their real purpose.  Through this, they achieved their interests and left.

If China aims to manipulate the market again and expect it to dump by releasing another restrictions on all crypto users, then this time it's clear that crypto market is not even affected at all. Bitcoin price has even surmounted high this time. I think fuds from China will create no impact anymore since China has been making destructions on crypto ever since and now, the crypto market is already tired of it. Even how many bannings of bitcoin, it will never stop bitcoin from soaring high.

How can you be sure that China has a big influence on crypto? China has repeatedly issued regulations that crypto transactions are illegal in their country. But what happened was that there was no influence at all with crypto, crypto was running as usual. Even though there are Chinese people who have assets in crypto, I don't think they need to rush to sell them, they are enough to hold them because exchanges don't block Chinese people owning crypto assets.

What is up with all these BTC getting banned in China threads ? Don't you guys ever get tired of posting the same stuff again and again? This isn't the first time China banned crypto and it will certainly not be the last time.

BTC price dropped a bit because of this news, but recovered quickly because most investors are not really afraid of these bans anymore since history has proven that BTC will continue marching forward no matter what.

No world government can completely stop BTC or other popular cryptocurrencies in my opinion.

It only affects to China citizens, I don't think it will affect completely to other countries. We are still here in the Bitcoin sphere full of good hopes, should not spread information that makes many people doubt. The popularity of Bitcoin is still growing in various countries, even more highlighting the positive side of helping people to improve their finances and living conditions.
I am grateful that in my country there is no prohibition at all on cryptocurrencies, and it's not illegal.  And I'm sure there will be more people who support Bitcoin, so the interest will continue to grow even though there is a negative feed back.

This is not new news for the market, China's ban has been in place since 2017 until now. Every time China's ban was spread, the market fluctuated and then the market goes up again. Instead of taking this as bad news and spreading FUD, then I think this is an opportunity where we can buy more bitcoin before it bounces again.

Damn,OP.What's the point of adding so many exclamation marks in your title?
Are you panicking?This sounds over-dramatic. ;D
The China crypto ban was pretty much expected.We just didn't know when it will happen.
Bitcoin and the crypto world will be fine without China and all the FUD that was coming from there.
I'm expecting many Chinese to use illegal ways to trade cryptocurrencies.Using VPNs won't do the work,because most exchanges are KYC.Perhaps the non-KYC exchanges will be flooded with Chinese traders and some privacy coins like Monero will explode in terms of price and usage,because my Chinese crypto supporters will start using them.

So here we go again and again? China and China for how many times?

the market already accepted that China will never be a part of this market so move on guys, we can strive and survive and also succeed in time without china in our side so why bother always??

instead news like this only brings bad reaction to the market things that we don't want to happen usually.

China does a lot of regulations to prohibit bitcoin or other crypto so that its citizens don't transact crypto. actually all countries have their own regulations for their citizens to accept or prohibit crypto and some countries such as china have banned crypto. but don't worry, there are still many other countries that accept and support crypto and currently, it can be seen that crypto is growing and advancing. it proves that with some countries banning crypto doesn't mean crypto is dead and undeveloped.

In 2010 when I heard bitcoin for the first time, my manager talked about bitcoin going viral in China. However, in recent years China has become the country that contributes the highest FUD. There may be some relevance between the current FUD and the past conditions of BTC. Where BTC experienced an increase in users because China accepted BTC at that time. Currently, Binance and Huobi are deregistering new user from China, i think another exchange will follow, which can be a good thing, because in the future, market will not be subject to FUD from China anymore.

A friend of mine messaged me about this and I've said the same thing that it had happened again and it's no longer new. 

A lot of newbies were surprised with this FUD that has brought by China but for everyone who has been long on this market, nothing new.

Aren't we tired of hearing fud from china Everytime ?

The difference this time is that exchanges are reacting to the china ban news and removing access for Chinese users on thier trading platform. This exchanges ban is creating more panic than the china news.

don't worry, the panic that is caused only has a short effect.  they will adapt to the ban issued by the Chinese government, I am not a Chinese citizen and live there but I really believe the crypto players there will still be able to find a way so they can stay in crypto.

I have seen this same scenario last bull market when bitcoin reach new ATH at aroun 20k$ china create news and FUDs regarding banning or cryptocurrencies and mining on their country but it turns out it is just a way to manipulate the market to store plenty of cryptos then create once again FOMO news.

is it a scenario devised by the Chinese government to manipulate the crypto market?
Or maybe it's the Chinese government that doesn't like how the investment shifts in their country?
I don't care if it's FUD or FOMO being popularized. but it is troubling a lot of people in the crypto market.

I doubt that unless they are holding bitcoin and continuously accumulating by buying at the dip. I don't really think so because if the government holds bitcoin they will support bitcoin by making it legal or maybe a legal currency like El Salvador did. China is always against bitcoin and related transactions, now they ban the whole crypto market, so it's a serious statement that they don't like decentralization.

Let’s try & forget about China shall we. They’re effectively excluding themselves from the future of finance.
Hopefully in the future China’s mood swings don’t affect the price.

since the beginning, the Chinese state has strongly opposed the circulation of bitcoin for its people, in fact they have firmly rejected the circulation of bitcoin from the start, the form of the bitcoin ban applied there is very strict whether bitcoin miners can be penalized maybe we don't know but they firmly refuse to adopt bitcoin as some other countries in the world have done

It's the same this year, China just wants to buy more bitcoin for themselves and at the same time rule the market so that they can get ahead against their rival nations especially USA. I think there's no way that we're going to be worrying about this one, in a way it's much better if we were to see this as an opportunity to buy more bitcoin since the prices are going down.

Although true, that doesn't mean the news in the OP shouldn't be discussed here. It's a big news in the world of cryptocurrencies, and imo it shouldn't be ignored.

What's interesting is that some Chinese Bitcoin holders are actually buying more these days. Here's a fragment from the latest Bloomberg article on the matter:


Overall I think Chinese crypto holders will adopt somehow to the current situation.

It is illegal in China to mention cryptocurrency at all. I've learnt China has a power shortage. By banning crypto they will be able to use that power for other things. According to their claims, crypto is actually banned due to mining, which consumes a lot of electricity. I know what I'm saying may not sound good, or could be rumor but there's a point to it. The use of cryptocurrency is banned in China, but it does not affect purchases.

This is a bad news that China ban crypto currency to their country. I don't know if it will really affect the market because we all know that China is the best for having a big and good economy and a percentage of their population using crypto currency. By this case I think the supply of bitcoin even other altcoin will increase so that the market will fall down.

When China announced that mining would be banned, prices dipped, but when they finally put a full ban on crypto in China, I think that prices of most cryptos will drop a bit. I think since this is a pretty predictable dip, that its worth to buy into. Still dont know which one, but I think that it would be profitable to most crypto people to aquire some coins during the dip.

Mining in China had been banned some couples of months ago and majority of the miners had moved to other countries to continue with their operations, I don't know why the authority in China decided to ban cryptocurrencies activities again after all this had nothing to do with power consumption in their country, well I believe citizens of that country would devise an alternative ways of using cryptocurrencies anonymously without any trace, I think the chinese crypto users wouldn't just surrender and give up easily.

I personally think that although China has put an upright ban on cryptocurrencies and made crypto transactions illegal it didn't create a major impact on bitcoin's price.
We did see a minor correction but the previous FUDs created by China had more impact on bitcoin's price than the current one IMO.
We are already seeing bitcoin claiming the $42k level which is still a good comeback.
In the next few weeks we might see it cross $45k level again.

As Far I knew China is the Capital of Bitcoin Mining.And there crypto is much popular.
Its really a very bad news to all crypto lovers in China.Hope their Government will announce something positive for Crypto Lovers.
Because crypto is the future of digital Currency system.

Don't listen to Perma bears. It’s almost like the FUD is created so they can justify the dump in order to take stupid money.
And if you give up on FUD, you will have a hard time profiting from crypto.

That's right because when the whales play the manipulation game, they take the money of the weak hands as they easily dump when they see a FUD and buy when there's hype because they got FOMO. In order to profit in crypto investing, you need to be clever, understand how the market work and do not underestimate the power of the whales to manipulate the market.

The Chinese government's announcement to ban bitcoin is something new. The government imposed bans on Bitcoin every few days. As a result, people have no confidence after the announcement of the Chinese government.

I can understand if the Chinese government prohibits Bitcoin mining, maybe because it has something to do with power consumption. But if banning
all crypto activities is completely incomprehensible, even though the Chinese population uses crypto very much. This prohibition is possible
the Chinese government does consider crypto as a threat to the digital Yuan, so the Chinese government ban crypto activities. But I agree with you,
crypto users in China will not give up and will continue to try to find ways to keep using crypto. Because there are many examples of residents of
other countries whose countries also prohibit crypto but can still use crypto. Hopefully the Chinese government can change its decision and think
more wisely, because banning crypto will not stop Chinese residents from using crypto.

This ain't new. Do some research  ;D

This is supposed the 4th time that China declares something about the Banning of Crpyto. So, those who are in this industry quite long enough probably won't be that affected in terms of mental state. Though, the effect itself is on the rates of the investments, which is quite expected due to this News (FUD). So instead of whining about this issue, why not try to enhance your ability and/or try some other stuff to gain experience. Right now, for me this is the best time to play and try new approach in terms of trading.

What an intense title with those exclamations.

No, it's not really new.

They've done that before many times and likely to do it again for the next years.

We all knew that China Government was run with communist party, and there's nothing we can do about it. Even Jack Ma, he had been silent for speaking up with their country's leadership, so there's nothing impossible with cryptocurrency being declared as illegal. It became illegal because this currency wouldn't be controlled due to no regulations associated, that runs through Blockchain and it's a decentralized system. Everything that's related to cryptocurrency probably hated by government without democracy, but not for countries who has freedom like US and other crypto friendly country. Nothing to be afraid with, not all Chinese people abide on that certain idea because some of them migrated on other countries and became a huge cryptocurrency holders who remains anonymous.

If they were concerned only about electric power they would ban crypto mining alone, but they clearly declared all cryptocurrency transactions illegal, and identified all firms providing crypto trading services to Chinese citizens as involved in unlawful financial activity. Huobi and Binance have already stopped new registrations of Chinese customers.

Whatever the reason for this ban, it's surely not electricity shortage.

The People's Bank of China (PBOC) bans all crypto-related financial activities, including cryptocurrency trading, token sales, derivative virtual currency-related transactions, and fundraising activities. illegal. The PBOC also banned financial institutions, payment companies, and internet companies from facilitating cryptocurrency transactions. According to the PBOC, in recent years, "the trading and speculation of Bitcoin and other virtual currencies has become widespread, disrupting the economic and financial order, giving rise to money laundering and mobilization activities. capital, fraud, multi-level fraud as well as other illegal and criminal activities.

I think it would have a significant impact to the market for a short period of time but the thing is how would they even regulate it if transactions made by their people remains unknown and anonymous to them. However, chinese people who're into crypto will still make their way to invest and do activities despite of the government regulation

This is not a big problem that is facing the crypto world today, because in the previous year China had also spread negative news about banning bitcoin but it was just a fabrication made to drop the price of bitcoin, and they must have other plans that are being designed to develop their country because they are indeed known to one of the countries that are in business in the trading world so they have a special reason to ban bitcoin. rypto at the moment.

for now the news published by china will have no impact on the market because everyone already knows when china gives negative news about crypto they take advantage of the situation to get profit they are very smart to make bad news about crypto with the aim of bitcoin price going down after bitcoin price down they buy bitcoin then they will definitely make positive news to push up the bitcoin price once the bitcoin price goes up then they sell it and they make a profit, then the news made by china will have no impact on the market.

The chinese government clam down bitcoin mining farms in their country nevertheless this doesn't mean people in China won't accept bitcoin. It is only illegal. https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp (https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp)
If you check the list of countries where Crypto is illegal online using simple investopedia website, you will discover that it is only  Chinese government that have the highest implementation rate and enforcement. I think the bitcoin market is somehow dependent on China one way or the other. Their technology is just too good.

bad news did happen but apart from that it's all back again this is only for china so even if the news is fud but for now it doesn't seem to have much effect for crypto.
Besides that, China also often does this, and it has even been recorded that it has banned and allowed crypto several times.
But in the end, don't be surprised when China will legalize crypto again.

They banned it a few times and it created a fud. They know very well what their main goal is. Ever has not creat fud that has already progressed towards recovery. China is one of the technological countries in the world. Such decisions or mistakes cannot be expected from them again and again. Due to which a much bigger effect falls on the crypto market.

Banned - Unbanned - Banned again and i wont be surprised that they would lift again the ban and would tell again that they are accepting or its already legal.They do know on how to play the game

and as expected for such country then it isnt really that something new to be somewhat manipulative.We do know on how much coins they do own which does tell that it is totally

contradicting on things that what they are doing unless if those coins been sold off then we can say that on how serious they are on such ban or against with crypto but as long
they are holding it then its always possible that they could revoke their decisions.

this is not surprising anymore because China does feel threatened by bitcoin...

China has been a crypto 'unfriendly' country for the past few years and the most shocking thing was when they forced all bitcoin mining there to be shut down. China is not a country that has a strong influence on bitcoin, so this problem does not need to be magnified.

I'm pretty sure China already has some of the largest emigration volumes of wealthy people. I don't expect this to hurt anyone but China itself. They were pretty much already out of the crypto market and this is just to make it more official.

The ban of all related crypto activity made by China is not a fair one to it's citizens at all, knowing too well that China contains a very high number of crypto currency users, miners exchanges and so much more and they are all going to be seriously affected with this ban. This will also affevt the price of crypto market as most people might pull out their money/investment from the crypto market in other to avoid the wrath of the government upon them as law breakers.
Now, I see that this is not the fear of technology or some new idea of technology,but the fear of Bitcoin/crypto currency taking the place of banks within the province of China, leaving the government money regulatory bodies to  being the boss of your finance with rule from nobody.
China placing ban could be for a while, and later uplift it, but if they don't, then there will be room for it's citizens to improvise.

Just one small correction: not China, but the Communist government of China. Communist governments are afraid of everything decentralized because they want to keep everything under control. I don't know how many people in China really support that outdated regime today, but I hope in the near future they will be in the minority, and this nightmare will be over.

Well if there citizens well not protest against what the Communist party do to their country then provably this regime is hard to pull out on their country. And even billionaires can even lift their fingers to those official and they are easily put on bars if the government doesn't like on what those billionaires do that against their own will. Hopefully we can see a fair state in china where everyone is free to choose towards there decisions and other things they like.

The Chinese government has certain reasons for prohibiting transactions using cryptocurrencies. several incidents that have been carried out by criminals to carry out drug buying and selling transactions, smuggling and money laundering.
The price of bitcoin often fluctuates and cannot be controlled by the Chinese government, which is one of the reasons China restricts transactions using bitcoin or other cryptocurrencies.

Cryptos are just being used as tools to create crime incidents but never its goal to be used in a negative way. Satoshi aimed for freedom and financial stability when he invented that. For me, the real motive of China why they put restrictions from using cryptos is because bitcoin has already beaten their own digital currency because probably a lot of Chinese people have their own investments in bitcoin and even in solid altcoins. Those illegalities caused by cryptos are never the real reasons why they have banned all crypto related transactions, its just that they are just too selfish that the whole population of Chinese should only use their own digital currency, yuan.

If this is the case, then it will be better if crypto market will cut its connection into China. Crypto market without China will make it more smooth sailing knowing there are already big countries who are now supporting bitcoin and its crypto market. Although China has the largest mining activity for crypto, it will never be a huge loss really since it has always been a total destructor of the crypto market since they come up with their own crypto. However, those Chinese citizens who are holding bitcoins at the moment will probably face the consequence so if they are free to move in to other countries, better do it now.

But this time it's more serious, or we can say that it's getting worst, in short China is always against crypto, and crypto would never grow in this country. What's the effect? Seems like the bad effect was just temporary as bitcoin is now bullish rising to $50k+ and would probably increase more in the last quarter.

"Find" is probably the wrong word.  The options are already there.  Trading peer-to-peer or using DEX (the legitimate kind, not the shitty token ones) can both easily subvert those pesky totalitarian government types and their silly laws.

At this point I wonder why people care, unless some of the forum members live there then why do they care that China is banning bitcoin for the 1376th time? Let them do whatever they want with their country and let them miss the biggest opportunity of the early century, the countries that adopt bitcoin early are the ones that will get most of the benefits from bitcoin and as such we should stop thinking about China and concentrate in countries like El Salvador and others that want to follow them.

There are millions and millions of well educated people in China and of course they don't like the Communist party, but the problem is that they are still a minority. What the zombified majority needs is proper education instead of constant brainwashing.


We don't need to "cut" anyone except for the Communist government of China. In fact, they'll be cut anyway sooner or later. Their days are numbered. They have no place in the modern world. China's people suffer from them harder than anyone.

Maybe people who are worried about the ban on Bitcoin by China, they think FUD from China can make the Bitcoin price fall, the fact that several
times China has banned Bitcoin, has not stopped the price of Bitcoin from rising. Maybe only down for a while, and even then because some
newbies panic. But not long after that the price of Bitcoin went up again. I agree with you, we should ignore whatever China does, because it's their
right to do whatever they want. As long as they ban Bitcoin only for their own citizens, it's not something we need to worry about. We'd better focus
on collecting Bitcoin, and follow the positive news about El Salvador which legalized Bitcoin as a legal tender. That way we are more motivated
to continue holding the Bitcoin we have until the target we want is achieved.

for the umpteenth time as you have also explained, that China does the same thing and keeps repeating it but where it has happened, there has been no effect whatsoever with the ban that has been carried out so far after the implementation. but they keep repeating even though it is clear that there is a certain purpose behind the ban all this time.

they do that obviously because they understand that the community is indeed one of the largest mining companies. so they want to do the shock effect that what's done with intent has a specific purpose. is it impossible that they will create their own bitcoin. but it seems that they themselves are not ready or may be afraid of not being accepted by the general public.

so they do ban but they themselves understand that the community still holds quite a lot of mining products that have not been done anything. So it is true that of course there will be a dilemma for the government with the ban because it is clear that many will be harmed by the policy if it is to be enforced forever. so all can and understand what will happen with something like this.

governments are very confident that they know that most of the mining does take place in their country. obviously there are certain things that we can't predict until now, but the rumors are clear that they want to make bitcoin themselves, because they really believe they can make a clone / rival. but again it is not easy to be able to make changes or even replace bitcoin. as long as the people are still mining as usual.

what you say does seem easy to just forget about china because there are still many other countries that can do acceptance like el savador. but again they do that because they know that china is still one of the most reliable in terms of mining. so their confidence in it is very big and they know the potential of the community.

it is clear that the ban for the umpteenth time has been very well understood by many bitcoin users and they are no longer affected and continue to show that whatever the Chinese ban does not affect the development of bitcoin. like you said even if there is a disturbance it doesn't seem to last long and bitcoin will recover as usual.

whatever China does can also not be taken lightly, because China knows that its people are the largest miners in the world and we must admit and cannot turn a blind eye to it. they do that because they understand that their mining is fairly recognized.

but I agree with the colleagues above that we don't need to be afraid of the Chinese ban because so far whatever is mined by them is still being held, so it's clear that if there is a ban then the people who will lose will surely have an impact as well as the Chinese government.

Once again there will definitely be positive and negative sides to anything that China does with the ban, but at least we should not be free to focus on countries that are starting to recognize bitcoin and this will obviously be counter-productive to what China is doing and can be ascertained. the people themselves who are harmed and will affect the state in the end.

The latest article in Forbes on the subject is called China ‘Banned’ Crypto. Can The SEC Try Doing The Same?. First off, I like the quotation marks around the word  ‘Banned’. Indeed, we can't take seriously another 'ban' from China. Secondly, check this out :)


Fingers crossed, the author of the article won't be executed by some Chinese spies.  ;D

Anyways, I'm starting counting down the days left to the unban, hopefully final and irrepealable.

I am even amused by this situation with the complete prohibition of transactions in cryptocurrency in China. Finally, the Chinese government has come to such a predictable decision. Now it remains to observe how such a prohibition will be implemented and whether the state will be able to control it. This will be a valuable experience for both people and states. We have seen so far that such attempts have not yet been crowned with success and, most likely, the state will not succeed this time either.

This is why I couldn't blame other Chinese citizens to stay away from mainland China and seek shelter or freedom in Special Administrative Region (SAR) like Hong Kong or Macau. Those said regions are more likely to experience freedom and free speech and doesn't need to be scared of their mainland's Socialism.
Nevertheless, I think the cryptocurrencies are still widely used by the citizens in SAR especially in Macau that gambling is allowed like and they are known to be the Las Vegas of the East and probably using crypto as a form of payment or part of their transactions. I think this declaration of China isn't gonna make a huge impact for the cryptocurrencies.

First I would like to say that news about China and whatever opinion they have about cryptocurrency no longer bothers me again and I no longer care about whatever they have to say about cryptocurrency, whether they are accepting it or not.. For some years now they have been saying that cryptocurrency has been declared illegal in China, and I don’t know we still continued talking about it till now if they have banned it years back?

Anyways, they have made their choice, but that doesn’t stop others from making use of cryptocurrency, and even their citizens will continue to make use of cryptocurrency and invest through peer-to-peer means, except that there wouldn’t be any mining activities there any longer.

Well what has changed lol? They have only banned crypto like 20 times in the past. ;D Seems like its hard to get rid of if they are still announcing bans.

But yeah I mean this makes sense doesn't it ... Bitcoin's unregulated nature collides with the government's wish for a state-dominated economy. Instead they are testing out their own digital currency - the 'Digital Chinese Yuan'. It has got none of crypto's decentralised qualities but is purely state-controlled .... but it digital. Another reason for them to Bitcoin from the picture. Again, (not that they have ever cared) they are trying to reduce CO2 emissions and all that so there is another excuse for them to do this.

How will it effect crypto? Well like I said they already banned mining, trading on Chinese exchanges and essentially banned crypto in some form or the other multiple times. So I don't think this 'new' ban will cause a major difference. The ban on mining caused a price dump earlier but the price came back. I think it will be the same for this (if there is any effect) but on a much, much smaller scale.

I run mining with an application made by a Chinese person and now that application has been closed maybe because the Chinese government has banned any type of crypto in their country but the Chinese ban has no effect on the price of bitcoin. I think the Chinese state is afraid of the collapse of their country's currency, so they prohibit crypto in their country. The government is worried that later their citizens will transact using digital currency and the currency in their country will automatically collapse, the economy in their country will decline.

I don't think it has much effect on the crypto market. China has rejected cryptocurrency for a long time and since then Bicoin has not experienced a crisis, in fact Bitcoin is getting better and better. Bitcoin is increasingly being recognized by many people and getting a lot of support from various countries. Bitcoin is an enemy of banks, whether it is a central bank or other commercial banks. It is difficult to control even the government, perhaps this is the reason many countries have not legalized Bitcoin such as China.

The decision taken by the chinese government today certainly raises many questions among other countries because they are a country that has been in the crypto world for a long time suddenly banning all crypto currency transactions, and this will trouble those who have been in the crypto world for a long time and have benefited greatly, and they should also know that with the ban it will not have a bad impact on the value of bitcoin, And now the price is getting higher because many other countries have inaugurated transactions using bitcoin.

there are several countries that reject crypto, including China, in fact I have heard news about China for a some time and it is heard back again. China also has an important role in the crypto world because there were many Chinese people who transacted crypto before but now China has banned it. actually overall it won't have a big impact on crypto projects or the future of crypto. it's just that if this makes many countries follow suit by banning it then it will be bad for the future of crypto. but I think it will be difficult to happen because we know the development of crypto is getting better.

China are doing all their possible best to see a way at which they can have full control of the market, there is a statistics that I saw recently, that shows that China is among top 5 holders of bitcoin itself, gone are those days when their Fud do have a high impact on the market, right now no one seems to care about them anymore because we are used to the Fud, they should keep on declaring everything illegal it's their way

China is anti-cryptocurrencies, they are afraid of Yuan and the economy being disrupted because of cryptocurrencies, this is normal, but I'm happy because there is no impact from banned cryptocurrencies so prices continue to skyrocket without anyone being able to stop them.

It is a pity that China took a different path. I think interesting events await us in the near future.

Cryptocurrencies are unique investments, even though there is a lot of negative news such as being banned in China but the price of cryptocurrencies continues to skyrocket, this proves that the cryptocurrencies community is very strong and doesn't care about negative news, it is proven that today bitcoin has reached $64500 and I'm sure it will continue to rise

I also agree that what China is afraid of is very basic and there really needs to be a solution. but we know that this is not the first time China has done something like this, we can be sure there are certain desires that are difficult to predict. is it not possible that China will make a replica of bitcoin, where we know that China is indeed famous for it.
It can always be ascertained that there is a hidden desire and it cannot be explained with certainty the intentions of China. I think it's true that we wait for further news.

The most important reason is that decentralized cryptocurrencies make the Chinese government unable to control the money in circulation so that it is afraid to be used for money laundering, and if cryptocurrencies become more massive then many people will switch the transaction system to cryptocurrencies and this can be problematic for the country's economy.

I have come to understand that Cryptocurrencies can't basically be stopped, China is not the first country to ban Cryptocurrency, Nigeria also banned it. But just as you said, despite the negative news been passed about Crypto, It continues to stay strong. Don't forget, that the Government always fight against what they can't control. If am not mistaken, this is not the first time China is placing a ban on Cryptocurrency, I can remember they banned Bitcoin in 2013, maybe they will uplift the ban with Time.

I think due to the very decentralized nature of Bitcoin that this will have less effect than the Chinese authorities would hope and may actually help wider adoption by Chinese citizens in general. They now know that it is a legitimate threat, which means it has reached critical mass and is now scaring the government so much that they choose to ban it. That means that if anyone is able to get hold of Bitcoin they may have a means to get money out of the country which is out of the reach of the CCP. It seems that this is turning into a big bonus for Bitcoin because there is a lot of money flowing around that country right now and looking for a way out.

news of crypto being illegal in china seems to have been a long time and in fact the news comes every time, but as we can see how bitcoin and other cryptos keep growing and once again China can't stop it and affect anything, we often see china news ban crypto until now people seem to no longer care about it because it's boring, until whenever china will continue to say it's illegal and crypto will continue to run

The news still comes up even after a month like it's a big deal to crypto. But it really is, just think about how rich the people there in China are and their money going to Bitcoin.

The one thing that I'm curious though is that they are banning all transactions but what about the project that is based on China like the NEO or the Vechain. There were lots of news back when it first started that there are companies in China that will be using these chains for their products, the hopeful suddenly died inside when they heard this news about banning cryptocurrencies and all their transactions.

China seems to like to put themselves at the center of the universe and no matter what the field, they want their influence to be endless and people need to see their feelings, instead of acting arbitrary and personal and you are right that they have countless times of disagreeing with the general sentiment of the market, when we want to merge with crypto, they will stand on the other side to stop it and vice versa. People have grown tired of China's expressions lately and protested as a natural move after many collisions, now is the time to force them to look at the mind of the market

So far we have seen that there isn’t anything much that has happened due to China banning cryptocurrency from their country. The price of Bitcoin and other cryptocurrencies would continue to grow because there are other people in other countries that are fully in support of it.

And another thing I would like to say is that this shouldn’t be a shock to the cryptocurrency community, because China has already been showing signs that they are not in support of cryptocurrency right from start, the government has always been fighting against cryptocurrency and which is why they proceeded with creating their own digital currency. So this was already going to happen.

Exactly, even the big miners who are operating in china before are force to sell their rigs due to the regulation of china aginst crypto. They cannot have a sustainable business if the government are not supporting crypto, actually mining business is good in china since the electricity rate is cheap but without the support fo the government that cannot be an advantage.

I don't even understand why people still are interested on negative news from china when we know in the first place that bitcoin trading is already ban in this country.

Those are excuses for China, I've said that in my previous posts regarding China.

They don't want their control disrupted and bitcoin disrupts their control over what the citizens of china can own can't be controlled by them.
In any case the situation of China isn't going to improve but you'll definitely see some people moving out of the country like Miners of china did.

the impact of the prohibition of crypto in a country makes crypto lose some of fans but that doesn't mean the future of crypto can be threatened. crypto is still running and growing if indeed many countries still support it, China is only one of a small number of countries that prohibit crypto. each country certainly has its own authority to accept or prohibit crypto and we cannot equate one with another. what is clear is that if our country has accepted crypto then we must also make good use of it, there are still many people who want to take advantage of crypto but are hindered by regulations from their government.

I already suspected that China would ban all Crypto, this can be seen from China's policy which has been known to control full rules against its citizens. This can have an impact on the circulation of Crypto which will definitely decrease.

Even if china bans crypto it will not affect crypto apart from china many countries around the world are legalizing crypto. Bitcoin prices have risen more than ever before these countries will not have any impact on bitcoin will rise in price based on its demand and investment china is banning bitcoin to circulate its own currency. China’s central bank has declared all transactions in shubitcoin and other such virtual currencies illegal with this a campaign has been launched to ban the use of digital currency in an unauthorized manner.

No, the news is not completely true, I have a friend majority chinese, he knows more than me about crypto especially Bitcoin, I asked him about this situation in china, he told me, to hell with that rule, for now he can still do crypto buy/sell transactions either overseas or in china, bullshit.

I believe my friend, the news about China doing illegal crypto rules is only exaggerated by the public, for sure it's all bullshit, what actually happened was not like what was in the news, just wait for Bitcoin to reach the level of $100k, misleading trick, all the public are fooled by chinese rule.

believe that China does this because there is a specific purpose. I see if China has thought of any strategy to try to profit from crypto. including bitcoin ban strategies and others. this is like a tactic from china to profit from a bitcoin price shock