China Has Ordered All Financial Institutions To Cut Crypto -Related Services

[laredo7mm]

It seems that we will keep seeing countries supporting crypto today and stop supporting crypto the next day, I can't imagine how many times china have stopped supporting crypto over and over, it looks like a planned manipulation to me

it already happened since bitcoin became popular but we can't deny that the big country was giving a very big impact to the crypto. China was a dictator country and anything that already seen as a threat for the china will be taken down by the regulators.
This is not something new in the crypto but  there were some bad cases about bitcoin that was making the market condition was become even worst than before.
The fact that so many people are shorting their bitcoin.

It impacts so much on bitcoin price because 60% of bitcoin mining happens in china because of cheap electricity. When china announces about bitcoin ban then mining company has to stop their business and sell their mined BTC. Investors also know that very well that is the reason behind this market downside. It's actually not about the size of china. It's about those mining company that is located there.

[BobK71]

Fucked China  They talk like crazy. Sometimes they say that crypto is banned from China and again saw not banned. They speaking differently at different times has ruined the market from its normal behavior

[gurunanakji777]

I am not surprised by this news Even before this, many times China has tried to crack down on crypto, but its effect does not last for 3-4 days on the market. It basically affects the Chinese crypto enthusiast. Let's see how the market reacts Even before this, how many times has China tried to crack down on crypto, but its effect does not last for 3-4 days on the market.

[mindrust]

I am not surprised by this news Even before this, many times China has tried to crack down on crypto, but its effect does not last for 3-4 days on the market. It basically affects the Chinese crypto enthusiast. Let's see how the market reacts Even before this, how many times has China tried to crack down on crypto, but its effect does not last for 3-4 days on the market.

I don't really believe that China is serious about cracking down on crypto. If they were, they would attack the exchanges first. The exchanges are the FIAT gateways for crypto. When you attack them and destroy them, people won't be able to trade crypto. When they can't trade, most of them will become worthless.

[Nalbo]

Among all the backsteps China have taken, closing miners is a good boost for the future of crypto as the world was getting wary of a lot of hash from every mineable coin going to China. Though they would prevent financial institutions to provide crypto related service, crypto would  still flourish in China. Not even the Chinese government can effectively block crypto. And for an oppressive regime like china, crypto could be the only way out for a lot of population.

[Viscore]

Among all the backsteps China have taken, closing miners is a good boost for the future of crypto as the world was getting wary of a lot of hash from every mineable coin going to China. Though they would prevent financial institutions to provide crypto related service,  crypto would  still flourish in China. Not even the Chinese government can effectively block crypto. And for an oppressive regime like china, crypto could be the only way out for a lot of population.

China has been making a lot of restrictions when it comes to crypto. Banning of bitcoin in China has made the crypto market started to decline aside from the tweet of Elon. But all these things have been proven that bitcoin can't be stopped by them or any other group.

Now, another news  was out and  cutting of crypto related services will never be totally done because crypto community will still find ways to continue its services even if most financial instiututions will agree on China.

[South Park]

China just cuts itself from progress. Yes, it's led to big crush of crypto market but it will recover from this. But in long term it's gonna be back on train. We'll see where'll be China in that time.

I do not know how many times we are going to see the same or a similar news coming from China once again banning bitcoin, it seems they do not realize that the more they do something the more impact it losses, personally at this point I am done with the Chinese government, if they want to stay away from bitcoin then so be it, bitcoin does not need them or anyone else by that matter, and if they keep that attitude then it will not be long when we begin to see businesses avoiding China and their policies.

[livingfree]

Is that a reliable news website for such?

Whether China have actually did this. They've been doing this long time already and there's always the news that rotates about them about cracking down mining facilities and banning ICOs a few years ago.

If they're doing this to their financial institutions, no one can stop them but the market will continue despite of this bad news.

[J1mb0]

China has always been a country with a hostile attitude towards cryptocurrencies, it is not uncommon for them to make decisions against the market.
But I think no matter what decision China makes, the market will continue to grow.

[devil2man]

China is doing everything possible to block bitcoin, crypto in general and their mining, banks have directives not to provide services to those who are crypto related, forecasts say that within a few months 90% of miners located in china they will shut down the machinery, this can quickly lead to a bear phase of the market

[DynamiteRock]

China is fucking up all the money. Bitch ass bozos.

[Woodie]

So much for being a super power 

Why go through all this and not learn from the technology, maybe embrace it to your advantage...of course you can't have it but you can make it your second home.

I guess it's too late to reverse these decisions, I hear miners are packing out their Riggs and leaving China 🇨🇳....

[BayAngelo]

china and india were among the first country to place a ban on cryptocurrency. Recently, all mining fans in china were ordered to shut down their rigs. many are moving their mining machines to another country. USA might be their destination. i hope they move into Africa. to make crypto more acceptable and valuable in Africa. china has never been in the positive side of the news.

[senyorito123]

The People’s Bank Of China Has Ordered All Financial Institutions To Cut Cryptocurrency -Related Services.  READ FULL DETAILS HERE:  https://worldpublicityblog.com/index.php/2021/06/25/the-peoples-bank-of-china-has-ordered-all-financial-institutions-to-cut-cryptocurrency-related-services/

This is not healthy for cryptocurrency followers, but in reality it wouldn't affect me so much because this was just only a part of fud. These days, many manipulators have been aggressively throwing bad news and making it exaggerating in order to influence the mindset of several people who's emotionally weak on their holdings. They thought it would cause panic, then after all if price broke down that their perfect opportunity to invest when value started to decline.

[kawetsriyanto]

Another FUD again?
I really wonder why this country hates Bitcoin so much. Even though most of the citizens are, on the contrary, many are concerned about crypto. After banning mining in the country, now they are spreading FUD again. Even though there has just been a breath of fresh air if the miners move their mining out of the country and this is a prospect for Bitcoin to strengthen again. And again, crypto will be hit by bad winds from China again.
We'll see what other FUDs they will spread because I'm sure that they won't stop disliking Bitcoin and other cryptos.

[Joca97]

China has always been a country with a hostile attitude towards cryptocurrencies, it is not uncommon for them to make decisions against the market.
But I think no matter what decision China makes, the market will continue to grow.

I dont know why all the people are shocked always about this. Every 1-2 years China always bans crypto and then after some times unbans it. This is just the power of China to manipulate the market. But like you said the market will always grow. Intresting thing is that Tesla then China then all this news were almost at the same time 1 month diffrence maybe.

[Koutami]

The People’s Bank Of China Has Ordered All Financial Institutions To Cut Cryptocurrency -Related Services.  READ FULL DETAILS HERE:  https://worldpublicityblog.com/index.php/2021/06/25/the-peoples-bank-of-china-has-ordered-all-financial-institutions-to-cut-cryptocurrency-related-services/

Its a bad decision from China govt, they didnt support their miners to keep a Hash Dominancy on Bitcoin, now U.S will take the opportunity to have the dominance. or Maybe Russia.

[laredo7mm]

China has always been a country with a hostile attitude towards cryptocurrencies, it is not uncommon for them to make decisions against the market.
But I think no matter what decision China makes, the market will continue to grow.

I dont know why all the people are shocked always about this. Every 1-2 years China always bans crypto and then after some times unbans it. This is just the power of China to manipulate the market. But like you said the market will always grow. Intresting thing is that Tesla then China then all this news were almost at the same time 1 month diffrence maybe.

So we are seeing a well-cordinated plan has been executed to buy BTC cheap? It's true that China is banning crypto since 2013 so that nothing new. It looks like big players are doing battle inside between them to gain upper hands over the market. The market is in a stalemate situation right now so let's see who wins at the end.

The People’s Bank Of China Has Ordered All Financial Institutions To Cut Cryptocurrency -Related Services.  READ FULL DETAILS HERE:  https://worldpublicityblog.com/index.php/2021/06/25/the-peoples-bank-of-china-has-ordered-all-financial-institutions-to-cut-cryptocurrency-related-services/

Its a bad decision from China govt, they didnt support their miners to keep a Hash Dominancy on Bitcoin, now U.S will take the opportunity to have the dominance. or Maybe Russia.

Govt is not doing the mining private company does. So it's not about govt and the USA is also not very friendly towards bitcoin so don't be so excited. China crypto bans lead private mining companies to shift their company to other countries that are it. I think they should do that so that we won't have any problems with china in the future.

[Pamadar]

China often makes statements like this and makes market conditions unstable and tends to collapse like they did in 2018, hopefully this will be the first step to make the price of bitcoin more expensive than the previous price because usually it will be more difficult to get bitcoin then the more expensive it is.

One of the after effects of this action, not to drag into any bad situation but Bitcoin will find ways.

It's been done before and they already created same action before but look how far Bitcoin went after that.
We will see more price action afterwards,

Both sides have their time of dominance, bull and bear will play and let investors to track which sides will let
them gain from their investment. Work wisely and not to fall with this kind of news.

[TastyChillySauce00]

They literally keep repeating the same thing over and over again to FUD the market, remember that they keep saying they gonna ban crypto every year and preventing institutions form dealing with crypto like from few years ago and you can see people over china still be able to use cryptocurrency freely.
I think at this point people should learn to just ignore china's statement against crypto, they can prevent crypto from flourishing in their country as they want, people just gonna move over using overseas service etc.