China implements new strict controls on Cryptocurrency

[Edraket31]

This is what I like most from China. The Chinese government is serious about handling and developing its technology along with the blockchain. They are also committed to providing education that is truly trusted and informative to their citizens by monitoring the circulation of news about blockchain that is not true. Look at their seriousness. In the next few years, China will become the leading position in the emerging field of blockchain

I doubt, after what they have said that they wanted to adopt the blockchain technology that almost hype everyone and now they are doing something that really makes panic to all people, it's really hard to read what China really up to, is it their way for them to accumulate more Btc or their way for people to panic sell and once the price is low they will introduce their own crypto.

[DreamStage]

I rather prefer them to make sure everything goes by the book and take action against illegal activities rather to just deny everything and block it.

This is a positive thing for crypto users in every aspect as it looks like China is trying to at least accomodate and accept the fact cryptocurrencies are a thing to have in the near future.
As a main currency for either their country or overall as a part of initial country taking such actions as example for others that want to adopt the same technique.

[wetburn]

it seems that china policy isn't too clear right now...

[romero121]

If everything is seen as a news, then it is a news and doesn't make a big market deviation. With cryptocurrency each and every statement rolling out of the different authorities too shatter the market as the cryptosystem is highly speculative by development. China's move is watched closely, it is for cryptocurrency related as well as on world market.

Already it made strict regulations, but that isn't followed strictly. Now once again regulations were compiled, but to what extend this is gonna get followed need to be analyzed to find the true impact of china's decision.

[peter0425]

this action from Chinese government means they are serious in their support to crypto,what they only want is the clarity of the flow because we also knew the illegal businesses that wanted to use crypto as their way to bag money.

Illegal activities should be penalized so I admire the Chinese government for their support on crypto as well as protecting its people from illegal use of the cryptocurrency.

that is what we must understand that not because they are putting some laws meaning it is bad for the crypto because they are only protecting the righhts of their people specially in this investments that mostly risk to enter.

so for them to give assurance to the Chinese people atleast this action must take place.

[Wintersoldier]

that is what we must understand that not because they are putting some laws meaning it is bad for the crypto because they are only protecting the righhts of their people specially in this investments that mostly risk to enter.

so for them to give assurance to the Chinese people atleast this action must take place.

Actually not, they are also regulating their market that projects that will enter their people should not affect their governance, and if they see a cryptocurrency investment platform or a crypto itself imposed a risk to their people, they act on it right away. That is the main good points that China is doing that others aren't. Because for me, proper education to the people and restricting them to enter dangerous investment should be implemented for these kind of projects not to be encourage entering their people anyway.

[Bim abk]

this action from Chinese government means they are serious in their support to crypto,what they only want is the clarity of the flow because we also knew the illegal businesses that wanted to use crypto as their way to bag money.

Illegal activities should be penalized so I admire the Chinese government for their support on crypto as well as protecting its people from illegal use of the cryptocurrency.

that is what we must understand that not because they are putting some laws meaning it is bad for the crypto because they are only protecting the righhts of their people specially in this investments that mostly risk to enter.

so for them to give assurance to the Chinese people atleast this action must take place.

China does have a pretty strict policy for their citizens, management is more dominated by orders from the government that is there. it is difficult for them to adopt technology from outside, they prefer to use technology made by them. and in fact investment does have a high risk, especially for those who do not have much knowledge

[AniviaBtc]

China has never been soft with the use of cryptocurrencies in their country so it's off no news that they would further strengthen the rules and regulations concerning cryptocurrencies. However let's not relate proportionally the price of bitcoin to the upcoming developments in China. I don't know how China plans to fully utilize the features of the blockchain technology without any digital currency.

The reason why China is very strict in terms of controlling cryptocurrency is because they want to dominate bitcoin. They want to create their own because they also want to control people. They utilizes bitcoin very well but there is a reason why they do it. Blockchain technology is its priority because they know that it will help their economical growth faster and develop its market.

[sana54210]

Does this people ever stop talking about cryptocurrency? Lol. Every single day I go online there is always news on China and cryptocurrency .

Well, they are doing the right thing by implementing these new rules and doing their best to keep things under control. It's not every government that has such time for cryptocurrency or looking into it. Good to see that China is taking it seriously, I hope they allow their citizens to start making use of cryptocurrency, because from what I've heard, people are trading underground there. I have also seen news that they are going to allow mining of Bitcoin, not sure as to whether this is true.

Just like countries in the developing world, none of their governments are putting interest in cryptocurrency. Basically, when countries think about regulation, it will end up more adoption of cryptos among its citizens. China, in my observation, is moving toward a full fledged crypto country status due to its government intentionally or unintentionally.

[Lauren Smith]

This is what I like most from China. The Chinese government is serious about handling and developing its technology along with the blockchain. They are also committed to providing education that is truly trusted and informative to their citizens by monitoring the circulation of news about blockchain that is not true. Look at their seriousness. In the next few years, China will become the leading position in the emerging field of blockchain

Yes bit they want to put to many restrictions up. That is never a good thing. They getting people ready for their own currency to get people to move to and use it and not bitcoin. They know they can't stop the technology but they can try to control it to a point.