China is blocking all the Crypto-Currency Exchange sites and ICOs

[NadiaHel]

China is reportedly aiming to block all websites, both domestic and foreign, related to cryptocurrency trading and initial coin offerings (ICOs) in what could be the country’s final crackdown on the industry. - CCN

What are your thoughts about this?
Is this the reason why Bitcoin and Altcoins are drowning in Bloodbaths since late January?

China holds the 30% of mining in the world. They are also creating their own crypto, the "Digital Yuan", based on blockchain and in develop since 2014.
Whatever is China doing with BTC, it is for sure in order to get more money. I believe they have one of the bigger btc reserves in the whole world, so they can speculate about it as they want to.
That's just my opinion, what do you think???

[happyme1818]

China is reportedly aiming to block all websites, both domestic and foreign, related to cryptocurrency trading and initial coin offerings (ICOs) in what could be the country’s final crackdown on the industry. - CCN

What are your thoughts about this?
Is this the reason why Bitcoin and Altcoins are drowning in Bloodbaths since late January?

It's a fake news they are not banning cryptocurrency, they are only after for ICO scams. They also need to protect their people from scammers all over the globe since there are more scam ICO than the legit one. NEO is one of the ICO in China that support by their people.

[dertymerv]

Is it really a big surprise that one of the most oppressive brutal regimes on the planet would ban crypto?  I mean I see how it would affect the market cap which ultimately affects the price but do we really care if china takes there ball and goes home?

[Kamelia]

They wouldn't want to actually lock themselves out of something which is likely to be a huge industry moving forward, probably shouldn't worry about all the banning FUD flying around too much.

[jdeanne92]

This issue is not new to crypto. But after several months it will just go off. Maybe they are just banning those scam ICO. But not the trusted ones.

[Omnia Vanitas]

China has a very personal concept of democracy and freedom, and the management doesn't like the idea that its citizen could freely trade money everywhere in the world without any control.
But they will remain isolated, so I'm pretty sure that they will change their position.

[Usui-Kun]

While these are happening, america and other alied nations are using this to improve their economic stance and treating this as an exploit to china since they are totally missing out on this unpredictable and dynamic opportunity. Shame.

[Jackypot]

I do not think it has a big impact, there are many tools to fly that restriction

[Mohamme]

I hope they totally forbid it and we will get rid of those stupid china based price manipulations. They announce that they forbid something every single week and everybody start to sell their bitcoins in panic. this is really ridiculous. Believe me that it will be much better when china is totally out of crypto market...

I also want to know this question, why the bad news in China, the whole encryption money market always has a big drop, is only the Chinese people in the purchase of cryptocurrency?

[Carmen01]

The really answer in that banned because crypto not go well in their economy or in their country but i think if you banned crypto that's not really good for them because you can't use the easy transaction here anymore and the wallet(like bank)that you own the key so it's not recommended to banned crypto in your country and better to do is see what digital currency or in crypto can be good in every users another thing we can invest a little only here so if you lose that's affordable and it's run by so much conveniece because if it's not good this will not popular all over the world.