China calling for a wider ban on Crypto currency trading ?

[Tenderino]

Is China an isolated country where its citizens can not send or receive money from abroad? If they can, they can trade crypto currencies abroad? Also, I am pretty sure that the hardcore traders will find ways to trade crypto currencies while exchanges are prohibited in China. Thanks to the digital world of the internet and I doubt that the government of China can effectively prevent those activities.

[Casmiro]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

This information doesn't mean anything, and China still has a lot of people trading and investing in encrypted currencies.

It is as if the country has put a traffic light on the road and let people obey it. We can still see people running red lights. The state thinks you are wrong and the rules are his.

There is no technical way to ban encrypted money, and as long as it is recognized, it will exist.

In the world of crypto currencies, you will get to hear so many news everyday but it not at all necessary that all those news is true and that most of the news which you hear are nothing but rumors. There is no such thing as none of the government official has so far said such kind of thing and that there are so many people living in China are still making out a huge amount of money because of crypto currencies.

Good or bad news about cryptocurrency will always be there. I think the CHINA government will find it difficult to completely combat the use of crypto in the country. The government may issue a ban on crypto users, but it will not be a problem for crypto users. Because in crypto, users do not use the need to use their credentials to join. Crypto does not have data about the user's identity, so crypto users also feel safe. So how can the government eradicate it?

[ICOBounty205]

In recent times, when legislation was in place to regulate Bitcoin, bad news appeared
But, that's just temporary. Let's look at the brighter future

[zhanghoqi5]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

From the moment the exchanges ceased to operate, China lost its importance, and in a way it did lose its importance.

There is no way for China to ban encryption altogether, because the exchanges have moved abroad. People can still trade bitcoins.

[Dragon5]

China is playing its game, while Korea has all the makings of becoming a crypto nation. Bithumb and mobile payment company have signed an agreement to enable Koreans pay using cryptocurrencies. That's marvelous news

[lixer]

These so-called bans on crytocurrency tradings are actually useless. Whatever the governments do, people will always find ways to make things possible. Privacy coins will be the trend because of this. And there many privacy coins. One example is DeepOnion. It is the best alternative, and the privacy coin in its category because of its technology. It features the latest TOR protocol, OBFS4, MEEK, DeepSend, DeepVault, etc.

When government don’t want such coin to exist in their country definitely they will be marking it illegal. And for such illegalization, they have to ban everything related to bitcoins. Here comes many exchanges and people who are continuously working for bitcoins. So this might happened in china but as far as I know, these are just fuds. We have been listening to such news since last year.

[Lora_ng15]

you do not need to panic so much, everywhere bitcoin is not exactly forbidden, since some countries allowed it, it is not profitable to sell bitcoin

[MidKnight]

But the Chinese people seems like doing the opposite. They are chasing the cryptocurrencies and the Chinese markets that focused on crypto are migrating to other countries just to continue their business.

[MD Milon]

Its a bad news, but not to enough worried or panic.because they cannot ban bitcoin all over the world.I think they cannot use bitcoin now.,I hope its not a permanent. Its just temporary.,also in China people still trade bitcoin.

[volleyballslenderF]

China must understand and not ban the cryptocurrencies as they are a good source.

[justspare]

Its a bad news, but not to enough worried or panic.because they cannot ban bitcoin all over the world.I think they cannot use bitcoin now.,I hope its not a permanent. Its just temporary.,also in China people still trade bitcoin.

So far, none of the government official of China has given such kind of statement and that the people living in China are still busy in investing their money into the crypto currencies and are even doing trading of the crypto coins.

The only thing which has been banned by the government of China is the mining of the crypto currencies and that they have sealed all the mining fields because of resource consumption.

[mashedtasks4]

It is a good source of money and China should not really ban this.

[orangeibmportD]

China will not be able to ban the cryptocurrency as it is not possible.

[Agrabah]

cunning Yes, of course they first shout in the news that cryptocurrency is evil.And a little while later it turns out that this evil is concentrated in their hands.

[guffie]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link to the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

It is very unfortunate if the Chinese state really prohibits cryptocurrency in any case. Because I think crypto is very worthy to maintain. And crypto can really make our living economy better than ever. Surely this is already proven for some people who feel the benefits of crypto. Hopefully, no more countries are affected by the actions of the Government of China.

[Pritt]

If BTC proves in first world countries to be useful and profitable for Governmental purposes, then yeah, China will look up to it and make a copy of its own. But until that, they don't care and will try to ban as hard as it possible

[Alpinat]

Well for me it is just another crisis in the bitcoin cryptocurrencies which will be leading again to falling of bitcoins value and other alternative coins value. In you are studying bitcoin you are able to say that they can't ban bitcoin in every part in the world because it is in the internet's side which means they must shutdown the internet first because btc belong in internet and no one can delete it or ban it.

[equestrianbucking]

Damn! that is really a very very bad news. It should not happen.

[perfect999]

Lolzzzz… I think this is an old news because I’ve been across this topic in the forum before, and after that I read a post that talks about a meeting being held by leaders (either of China or the world) to make China lift the ban on ICOs and Bitcoin. They also mentioned something about Bitcoin being regulated by the authorities, but I’m not really sure if that will be quite possible. But I’m very sure China is talking about lifting the ban on Bitcoin and ICOs, cause I read it from a news website online.

[streazight]

Its a bad news, but not to enough worried or panic.because they cannot ban bitcoin all over the world.I think they cannot use bitcoin now.,I hope its not a permanent. Its just temporary.,also in China people still trade bitcoin.

So far, none of the government official of China has given such kind of statement and that the people living in China are still busy in investing their money into the crypto currencies and are even doing trading of the crypto coins.

The only thing which has been banned by the government of China is the mining of the crypto currencies and that they have sealed all the mining fields because of resource consumption.

China is no doubt one of the super power in this world and that it holds a very strong influence as well. We have come across news like banning of the crypto currencies as well as banning of the mining of the crypto coins in China and that the only reason behind all this is that the government of China is thinking of taking control over all the crypto currencies and for that they are taking such kind of steps.