And China are going to ban crypto. Its much worse for industry
Whenever China bans cryptos the price of bitcoin will boom.
China is always planning to launch their backed digital currency and also they concentrate more on implementing the blockchain technology into food industry after Xingping's statement of seize the opportunity.They tells crypto currencies will be hard to trace so it will be uncontrolled if it was adopted by their nation so they banned initial coin offering investments since 2017 and start banning the crypto exchange platforms to stop any trading activities.And more their consider crypto as bubble.
As investors and technologists worry that the U.S. is falling behind in the race for dominance in blockchain, Beijing is trying to get ahead.
A state-issued digital currency would help the Chinese government fight issues like counterfeiting and product safety, but it also raises privacy concerns.
But as cash floods into the latest crypto boom, worries about fast-rising valuations and potential fraud also crop up.