China says all crypto transaction are illegal

[Doell]

I haven't seen news like that in a long time LoL in the past there was also news of the same illegal crypto in china but there were still many holder and they said it was fake news to made a panic ,in difficult times when the pandemic everyone is more familiar with crypto and investing for the long term ,such news maybe by some journalists who want to manipulate market or it could be a financial institution just a temporary thought

[john_nautica]

I think China doesn't update the news for bitcoin, always uses the same news, unfortunately many new players panic about this news, but if newcomers like to read, they definitely won't panic if there is bad news from China, China should also be more forward in spreading fud . by acting first and seriously then publishing the same news about the ban on bitcoin mining

We all have been hearing this for years now, and still is being a cause of panic and impulsiveness of the many until this time around. Newcomers are definitely being affected by this repeated news because they have no idea, but I hope just like what you have said that they won’t be gullible and do their readings regarding it. I do not know what is the definite intention of China for releasing such but one thing is for sure, crypto won’t stop because of it.

Honestly, I myself feel quite indifferent to the current news of the market, there is good news that it will increase in price and vice versa, this has happened all too often in this market. But anyway, those are lessons for those who are new to this market as well as will be trained more in patients, perhaps the next time will be really exciting so no need to worry much and relax with it.

We could hope for the next that the best possible thing will happen, there is nothing wrong with being positive after all, but of course we should not get our hope too high. This is definitely a heads up for the newcomers that not every single information that is being posted must be believed right away, checking its credibility and researching more is a good thing to do.

[usaha jaya]

China is like that, they always make everyone panic, the news is deliberately made to drop the price of bitcoin and people will buy bitcoin at a cheap price, because so many miners are doing crypto mining there easily, so everything is done by China to turn off cryptocurrency there.

[Minecache]

This is not the first time they spread out fear, They are now celebrities in making FUD. Now Investors no longer care about it. They spread these ban incidents mainly to create instability in the cryptocurrency market, that's why they can buy the dip. A few days ago they spread out a breakdown of crypto mining in china, Actually, they made a lot of money by buying in the dip at that time. now they are doing these dramas to buy in Low again.

[Mr.Noda]

Oh God, search the internet for how many times China has banned cryptocurrencies. These are the most common manipulations. news. A refutation will be posted soon.

[Pelana vreo]

There are still many countries that accept crypto, we have EL Salvador and it is likely that in the future the list of other countries will increase to accept crypto, if crypto transactions are illegal, why does paypal accept buying and selling transactions using top coins like BTC and ETH?
China is only making statements that have no proof, because if the transactions are illegal, why have they not banned crypto transactions in their country since the advent of BTC, Because until now we can still use crypto for transactions and trades on top exchanges.

[martina14]

It's been several times now that I heard China ban Bitcoin and other cryptocurrency, and for me who cares, due to there are lot of countries in the whole world now that are adapting the concept of digital currency in bitcoin or altcoins. If ever they are doing it, surely there is a big purpose for them, and besides, it is their understanding only that it is illegal. But for me is not.

[Galley]

If China really decides that cryptocurrency transactions are illegal, then they will not write about it on any portals and news outlets. Everything will happen there much easier and more efficiently, the state news portal will announce this, and that's it. There will be no questions about this.

[jostorres]

China has generally declared all crypto transactions illegal because they will introduce their own yuan currency out of self interest. Also the global value of cryptocurrencies like bitcoin has fluctuated greatly chinese regulators have tightened policies to curb suspicion and money laundering over the use of the exchange in criminal activities. This will have no effect on crypto the crypto market will rise based on its demand the use of bitcoin and other virtual currencies has grown exponentially in recent years many countries around the world are supporting crypto.

When they do their CDBC or whatever it will be called, a digital yuan basically then they will realize that nobody will care about it if it doesn't have any connection to crypto at all. What is the point of a digital currency backed by a government if there are no connections to crypto world?

It only makes sense when you manage to actually connect it to some other thing, that is the best path to make a profit and we do not see that at all right now. I understand that it is not profitable for a nation to let their money go to foreigners but they would be getting crypto which actually worths something in exchange of money they just create out of thin air so I would say it would still be more profitable if they let it be.

[Hamphser]

It's been several times now that I heard China ban Bitcoin and other cryptocurrency, and for me who cares, due to there are lot of countries in the whole world now that are adapting the concept of digital currency in bitcoin or altcoins. If ever they are doing it, surely there is a big purpose for them, and besides, it is their understanding only that it is illegal. But for me is not.

Yeah they've been doing these in the past thats why these kind of decisions arent already shocking news anymore and just let them be because there might be again some u-turn decisions to be made

again.It is just that they are really having some fun on making out banning there and banning anything that do oppose their interest and now they are making crypto transactions to be illegal?

Its their decision to make and yeah its sad but doesnt mean that the market would stop because of this kind of decision.

[ZaraCB]

"China has banned all crypto transactions," this is the hot topic of Trading discussion, economic, Bitcoin discussion, altcoin discussion and almost every section. The Chinese government is sometimes embarrassing us with such news. So I think there is nothing to panic about. Just wait and see. If Crypto is illegal in one place, it will be legal in ten places.

[Loathinglegally]

Chinese media says Banks are not allowed to accept crypto as legal tender.

US media says China bans all crypto transactions.

Chinese media says China bans unregistered crypto exchanges.

US media says China bans all crypto exchanges.

No one knows what China wants. China bans crypto-mining nationwide, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. China bans everything that gives its people more freedom. The crypto ban in China is the biggest confirmation of how much freedom crypto brings to the people as it unchains them from governments and central banks.

[cryptobrzy]

We know this kind of message come often now and then and we dont really know if the news is true or not … I think only people new to crypto would be shaken by this news and hopefully the news isnt true… most countries governments are really looking into cryptocurrency and since they know they can’t control they are trying to force it out

[warhawk200]

Chinese media says Banks are not allowed to accept crypto as legal tender.

US media says China bans all crypto transactions.

Chinese media says China bans unregistered crypto exchanges.

US media says China bans all crypto exchanges.

No one knows what China wants. China bans crypto-mining nationwide, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. China bans everything that gives its people more freedom. The crypto ban in China is the biggest confirmation of how much freedom crypto brings to the people as it unchains them from governments and central banks.

What china want is power and power can be only achieved if there is control over the flow of money in the country, and thus china will never accept these modes of payments bcz if it is allowed then the government will lose control over the same.

[MaiQwaN]

One of the reasons why China has declared all cryptocurrency transactions illegal is that crypto assets are not backed by anything from the real sector of the economy. It is strange that Chinese officials only now, many years later, have noticed this feature.

[iTradeChips]

The movement of this thread, as far as I'm concerned is proof that crypto currency peeps don't take China seriously at all. They know what shenanigans China has against Bitcoin and against Cryptocurrency as a whole. So with that, what will happen now is that China will be ignored altogether by the crypto community. Chinese crypto investors who are based in China needs to go do their business elsewhere where crypto is still safe from the CCP scrutiny.

[Viscore]

The movement of this thread, as far as I'm concerned is proof that crypto currency peeps don't take China seriously at all. They know what shenanigans China has against Bitcoin and against Cryptocurrency as a whole. So with that, what will happen now is that China will be ignored altogether by the crypto community. Chinese crypto investors who are based in China needs to go do their business elsewhere where crypto is still safe from the CCP scrutiny.

China has been doing this fuds over and over again that it come to the point that the crypto market has become resistant to it. There might be a short dump but just for temporary, or the market sometimes may not even affected at all. But if this will be a serious banning for all crypto transactions, then those crypto holders should have somewhere else to go where transactions are safe and not prohibited. I believe this will attract its neighboring countries to adopt crypto instead, so that those residents from China will create transactions in their place and they could make a huge amount for taxes.

[DoublerHunter]

^ Definitely right this is not new, they keep spreading FUD because they know that there are a lot of newbies holding their BTC and once most of them believe the FUD, these whales are very happy to see people that on the FUD. Probably people of China don't have a choice, probably some of them keep holding until there is no FUD. Sometimes, the government in China lifted the ban and restriction just like what happened before. So that is the reason a lot of people there are already immune to this kind of news.

[Dragonfund]

Chinese citizens should adopt 0xMonero and DERO to keep their transactions private.

That would depend if you are coming into the market or already in the market, you should know that this action will not only stop retailers and Marchant from doing cryptocurrency, it will also stop institutional investors together.
I still think adoption of P2P will help secure everyone transaction including the new investors but then you know, it's not everyone who want to go through KYC because they want to get into cryptocurrency and you know governments can be sneaky a times, they will go any extent to catch who go against the law.

[SlimShadyMmp]

Again and again we heard thes news of crypto ban from china even forcing miners out of the territory so I think these things shouldnt surprise you Thesame people banning crypto are the ones going for a digital currency so get your maths right here They might not like crypto very much but is a time thing i guess Sooner or later they will rebound all these I dont want to get involved