CHINA BLOCKS ACCESS TO OVER 120 EXCHANGES

[kryptqnick]

China is total oxymoron. They try to make their economy bigger. On the other hand, they try to ban/censor everything which threatens their government (not state). I think eventually this oxymoron situation will finish.

That's because they are trying to get their economy up while trying to remain in full control of everything.

They could enforce a small fee (0.5%, for example) on the exchanges that operate on legal basis and become both richier and in control as much as it's possible. It would be okay to make strict rules for ICOs and some requirements for exchanges, but banning is just ridiculous, because it will simply make businessmen leave the country and go help the economy of another one by building something successfully and paying taxes for profits. What is good, though, that at that time the news didn't affect the price in any way. I guess people are too sick of Asian market news causing huge price dumps, so they don't really care anymore.

[1714154592]

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[DgurJIupyf]

It seem china is taking its ban on crypto-currencies rather too serious, recent move involve restricting its citizens access to foreign exchanges.  Will this deter those really serious about 'breaking the rule'?


https://bitcoinmagazine.com/articles/china-blocks-access-over-120-offshore-digital-currency-exchanges/

If to speak more globally, why China prohibits ?
There is such a thing in the economy as the outflow of capital. If large investors withdraw from the yuan country, the country will experience an outflow of investment outside the country. In the Communist society of China, the main prerogative is the development of the economy of the country, not its neighbors. For this reason there are disagreements in the power. Some believe that it will be better, and the party believes that it is not right. If we talk about my attitude,  Let me give you an example.
So Look, I'm a collective farmer, raising Pets. It's time for me to sell my cows. I am looking for the highest markets, where the price is the most favorable for me. I found in another country, 100km from me a very favorable price. I go to sell my fresh meat, and they say to me: "Farmer, where are you going? you in our country only should sell!"And in our country it is not so profitable. Low price....
here's an example of the Chinese economy...

[xuan87]

Well nobody surprised anymore, it's already a lot of times China making the headline news by banning crypto or exchanges,but in later they will loosen the banning and allowed the transaction again, the government want to get control but too afraid to try, so the banning is on and off

[Osayo]

It seem china is taking its ban on crypto-currencies rather too serious, recent move involve restricting its citizens access to foreign exchanges.  Will this deter those really serious about 'breaking the rule'?


https://bitcoinmagazine.com/articles/china-blocks-access-over-120-offshore-digital-currency-exchanges/

This is not good at all for cryptocurrency. The Chinese have a very huge population which could have helped in promoting and funding cryptocurrency. I hope they reverse the ban.