China is punishing cryptocurrency

[pokxon]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

[1715460182]

1715460182

[1715460182]

1715460182

[1715460182]

1715460182

[cryptodreem]

This is not a good news for the cryptocurrency community. This ban on cryptocurrency might affect the market price of cryptocurrency. Let's see what happens.

[bman01]

The crypto currency as well as bitcoin has become very much popular in the China. I think Chinese governments want to create their own crypto currency and to make its currency popular; it has banned other crypto currencies in their country. But I think that soon they will stop such banning as their people have a lot of investment in the bitcoin.

[KzStPn]

The more the state forbids something, the more popular it is. For example, light drugs, now in many countries they are legalized. Over time, will also be with the crypto. It is very tightly entered into our life and it's useless to prohibit it.

[bellamente]

Bitcoin did not feel any problems in September-October 2017, when China imposed a ban on crypto-exchange exchanges.

Then the rate of bitcoin increased by 100%. Now this too will not be a problem

[harrybell]

This a sad news for the market of crypto currency. governments discouraging the use of crypto currency affects the market as the number of investor falls rapidly.in this post it is said that trading in the country fell after the ban of crypto. This suggests how strong the impact of the ban of crypto is. Hopefully the government will accept crypto currency and will give opportunity to trade it in the world of fiat.

[Orang Tua]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

Can we draw the conclusion that crypto is in the likes of the people of the world, and the government see it as a threat. The more banned the more curious. For example, illegal drugs are now in many countries they are legalized. There is no point in forbidding crypto, the world will still be rebelling because this is the technology of the future.

[nambunamba]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

Yeah seems like goverment win and able to encourage their people to not buying cryptocurrency. But the questions is how long they going to do that and when all of people in the world using it would china still ban it? China is strong country and they have a big influence in economy but i dont think they able to ban cryptocurrency forever. Even korea are about to allow ICO again, so i think somehow china will allow ICO and cryptocurrency too.

[twobits]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

The majority of chinese traders are moving towards korean exchange site which has been giving a better environtment rather than china. I would not get surprise to see that. The majority of chinese traders are moving their money to the korean exchange site. That's my point about that.

[4garret]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

Very bad, nowadays bitcoin has become very popular in China, and this is bad for the coin owners. I suspect the Chinese government wants to create an independent cryptocurrency and prohibit foreign currency. May the Chinese government immediately stop the ban, because if not, people who have invested money into bitcoins or other crypto will suffer losses if this does not end soon.

[honghe99]

I think this is a false news. From Google's data, China still has a lot of cryptocurrency investors, but they are not trading in renminbi. This is very strange.

[salinagomez]

From the begging bitcoin create a good value in china based on this most probably china wants to develop other tech or system which they can use properly and may be they can develop own crypto currency that’s why this problem is happening I think.

[Perfect35]

Despite this latest backdrop, i still see the Chinese participate actively in crypto. So many of them still look forward to investing in crypto. As a matter of fact, there are lots of Chinese exchange sites. I also come across some that i have never heard of. The action of China government on crypto, does not limit the activities of Chinese in crypto.

[MEMEX]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

In my opinion, what the Chinese government is doing is a form of protecting its citizens from fraud and robbery of organized property through crypto.
Can not be blamed, every country has the authority to take any decision. China is a developed country and also smart, so they've thought it's the best.

[seregeiImaneal]

Maybe China act so because they want to launch personal cryptocurrency - and they are doing it. In autumn I got information that they will show some results in July, so I think it is the beginning of it. But how it can affect on other cryptos?

[amacar2]

This is their fault they banned the local trading platform and that is the reason why nobody can or want to trade bitcoin against yuan. They might open up new exchanges backed by big Chinese bank and monitor all user and every transaction. Chinese is communist country where leader is running a dictatorship under the banner of communism.

[xminer2014]

I order a lot from China, it's pretty much standard for them to show the prices in USD, not sure why that matters though.

[rsrb]

I am not sure about this news. As far as i know they banned crypto currency. If this happen then i think it will impact on this crypto market also. After that peoples will not afraid to invest on this market.

[hitrawal91]

1  According to new information, the Chinese yuan is used under 1% on the world bitcoin trading floor. Beijing is continuing to crack down on active cryptocurrency transactions

2  China Bitcoin trading has hit a record low since the Chinese government's ban on the crypto market

Like the title. This issue is similar to the US imposition of duties on imports from China. What do you think about this issue ?

Yes, I agree with your view and statement which is against the Chinese government and yes even I think that the Chinese Government Ban on cryptocurrencies is really not a good thing and this is not also good for Crypto market. I think the ban is just for a short period of time and they are going to regulate it soon with their own Cryptocurrency with strict rules and conditions because they even that their country is having the highest number of participants in the crypto market and they will be using it for their country's economic benefits.

[Ohab09]

they are doing it, Big influence in economy but i dont think they able to ban cryptocurrency
Activities of China & Chinese  in crypto.|