China is punishing cryptocurrency

[Psynthax]

In fact, the Chinese government has been regulating and punishing cryptocurrencies since last year. They just want to protect national property from loss. The cryptocurrency is very popular in China. Many people have invested in cryptocurrency and profited from it.

Not only from last year but they are thinking the crypto will be disturbing their investors and then they try to give the more protection for them. That makes a lot of sense because they have been trying to protect their money still safe. It has started to punished the crypto since 2013.

[vrabac68]

Well we all know that that day when China reverses ban for cryptocurrencies is near and when that happens crypto market will explode to the new highs. It will happen maybe next year and not this

[aldrin6697]

China is being strict with crypto since they want to protect their economy, money may transfer to any part of the world because of it and it is in China's watch at the moment.

[abubakar.tapo]

China is the great economy of the planet. A lot of the crypto market depends on news from China. So far, China is aggressively referring to crypto-currencies. But this time will pass and China's attitude will change.

[chocopapaya]

Where are your sources? What more specifics can you give?

Well, basically it sounds the "news" you talk about isn't reliable at all.

I personally don't see China punishing crypto at all.
The regulations they have put into place are good regulations and are protecting fraudulent companies from gaining prominence.
In fact, I believe the opposite is true, China is one of the foremost countries looking to adopt crypto.

also, the remark about trading volume was made last july.
This whole year, the entire market has been low because of a low trading volume around the world.
So to say that it is only China that is trading low is a misrepresentation.

Often, people try to find reasons why the market is not going how they would like.
They try to put the "blame" on other countries or say certain "bad news" is the reason why.
That is just lazy and misinformed.

[Naitik]

I am little bit confuse about china activity on crypto once they ban then open its own exchange and now fully ban the crypto. What is going on??
What they really want to do???

[crenfrosck]

Well, China looks like it suffers from a strong schizophrenia sometimes... Maybe the leading party is pissed off because they did not sell at the ATH  . All right, now seriously. Banning crypto sounds funny at least. I doubt that they can eliminate all potential "threats" to the national security, but China is China and they will never stop surprising us, so  I am not absolutely sure that they will not be able to prevent anything. But do they realize that digital assets can literally save the entire country in a potential trade war between them and the US? I think they will regret this decision very quickly.

[laskybok]

Well, even before now, there have been several news of China negative impact on crypto, yet this does not have a lasting effect. They can decide to do whatever they want, yet the crypto space will continue to strive well.

[ELE.ZYK]

In my view, the Chinese government has always had an unfriendly attitude towards encrypted currencies. Moreover, they have completely banned the existence and trading of encrypted coins in China.

[indoagung88]

I was sad to hear this news, China should not take action on cryptocurrency transactions with its policies. but maybe this is part of a process towards cryptocurrency success. I don't think this is good news for cryptocurrency users. be patient about this news.

[mbah]

and with the restrictions made by the Chinese who also makes the price of crypto fall until this time. but it is the circumstances and reasonable actions taken by China on its own. they lost a lot of profit from each transaction and conditions crypto. probably not the right punishment but added the more strict.