China says all crypto transaction are illegal

[Kelvinid]

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

They keep doing this but their people are finding a way to continue mining and this government got crazy hunting their own people just for the sake of hatred and greediness. They don't have any reason why it cost like this but it was their government who think that crypto existence is a threat to their economy.

Well, that was their decision, they are free what they want and yes, it won't surprise if sooner they will welcome crypto again as they did before and ban it once again.

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[TelolettOm]

They keep doing this but their people are finding a way to continue mining and this government got crazy hunting their own people just for the sake of hatred and greediness.

That is what I also think. That country always does this every time, they always try to forbid their citizen to enter the crypto world, ban all crypto activities, and also scare the citizens not to be related to Crypto, increasingly tightening the regulation on Crypto. And it seems like it will continue so whenever it is not shocked again if they will exhale various Fud or Bad News again in the future.
But their citizens always have idea to enter in the crypto world and get money from this 

[adibi12]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I have often heard Chinese statements about all crypto transactions being illegal since 2018 or before, but they are not able to disappear crypto from the internet world, crypto is a modern transaction that can be used as a reference for future technological progress, for me crypto is a transaction that unique without intermediaries

[evichi]

In my opinion China is making frantic effort to promote its currency - digital Yaun. So long as they have a digital currency it only means they want to subdue other currencies and promote theirs. China current stance on crypto currency will only impact the crypto world for a while, the crypto world will continue to thrive because many people, especially individuals in various parts of the world have embraced crypto currency as a result of its numerous advantages.

Probably, they noticed they have not made the impact they desired, but they fail to realize that they are only one country out of many in the world that have allowed the use of crypto- though not official in some instances. Many countries and financial institutions of the world are currently making effort to embrace crypto and the blockchain innovation. So, China's stance on Cypto is only momentary. The crypto industry will grow despite China's opinion. The advantages of crypto, in my opinion, surpass its disadvantages.

[CaptainCrapper]

China is a well known as the major country like US, that's why any bad statement may give bad impact to the crypto but to be honest it's fake news. https://www.trustnodes.com/2021/09/24/bloomberg-publishes-fake-news-on-bitcoin-as-china-prints-100-billion

I guess bloomberg already ordered to create fake news and such statement already created a few weeks ago. So many times china was banning bitcoin and it doesn't give big impact. This will become a short term dump

After someday they are trying to make some fake news I don't know why they do this but this news market goes very down and all of the small trader's lose from the news so we should carefully handle the news and need every investor and trader.

[Cling18]

China couldn't manipulate cryptocurrency so they're definitely against it. They are always releasing negative comments about it. Despite all their statements about crypto transactions, it doesn't affect the market that much. It will always stand firm despite all the allegations that China might throw them.

[yazher]

WTF? How many times they can ban the same thing again and again?

I don't want to see the article because these kind of articles are posted everyday on the portals and even if they are really banned it still there is no effect on the crypto prices for sure.

The point of their sudden decision about crypto currencies is they cannot control it and they just wanted to totally dismiss every proposal about it and they make a one-time big-time move which is put a prohibition of everything from transaction to even owning it.

This is when they have the chance to put a judgement on their current power. that's why we cannot take anything on these people because they wanted to push down the success of El Salvador by making a big fuss about cryptocurrencies. I hope the crypto industry will not mind their decision. they are just one of the big bullies in everything they opposed.

[aylabadia05]

In my opinion, their prohibition is part of their strategy to play the market price. The rest they will take advantage of a bad market to collect lots of valuable coins when the price improves again. From time to time, China continues to ban crypto activities for various reasons.

I slightly agree with what you say because basically China is not a stupid country that doesn't know about cryptocurrencies, moreover their economic circulation is very wide and large so they can always have an influence on the market, so they can just do that in order to achieve more profits a lot in a short time.

When it comes to economic strategy games, China is great. They plan something well then in their plan make their business rivals emotional. For example in crypto. They try to manipulate the market by developing the issue that crypto is a danger to the country's economy and so on so that the price of the coin decreases. When the price drops, I'm sure they will buy in large quantities.

[Silver80]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

this is a mere trade war, other countries play a role in bringing down this momentum, so the global panic causes the price of btc and altcoins to plummet, there are even 2 contradicting news causing clarification from the Chinese state.

[Sweetbtc]

Majority of small investors are sheep and afraid. You cannot make it in crypto with that mentality. You have to be fierce and ignore all fud and dramas. That's the only way to win. China fudding to fill their bags even more, everyone should know that. Do you really think that China would ban something like cryptocurrencies for real?

[dimonstration]

That is what I also think. That country always does this every time, they always try to forbid their citizen to enter the crypto world, ban all crypto activities, and also scare the citizens not to be related to Crypto, increasingly tightening the regulation on Crypto. And it seems like it will continue so whenever it is not shocked again if they will exhale various Fud or Bad News again in the future.
But their citizens always have idea to enter in the crypto world and get money from this 

It’s no longer shocking whenever they announce banning of crypto because they always do and after sometime when dump then hype happen they are the ones who introduce new coins or platforms. There’s no way to stop crypto now no matter how they ban it since it can be used worldwide with ways to change IP or go in other countries or asking friends from other countries one can still trade or do their usual crypto activities.

[BAGOBO]

When it comes to economic strategy games, China is great. They plan something well then in their plan make their business rivals emotional. For example in crypto. They try to manipulate the market by developing the issue that crypto is a danger to the country's economy and so on so that the price of the coin decreases. When the price drops, I'm sure they will buy in large quantities.

There are so many issues from China that have an instant effect on the price crash of the crypto market but they deliberately don't publish the news gradually, hence identifying large deposits in cryptocurrencies when the market is down and then the next issue might be published after take profit.

[Em00n01]

I am hearing this kind of news from china since 2016 when i involved with crypto. China always try to create fud. I don't know what's they're gaining by doing this everytime. But the good news is their news are not effecting market like before.  

[Darktongue]

Majority of small investors are sheep and afraid. You cannot make it in crypto with that mentality. You have to be fierce and ignore all fud and dramas. That's the only way to win. China fudding to fill their bags even more, everyone should know that. Do you really think that China would ban something like cryptocurrencies for real?

Correct, China doesn't want to miss the next opportunity. This is sure that we are waiting for the big opportunity because of the fake Chinese announcement. If you calculate their announcement and time, then you will know that all are fake. They didn't care about the cryptocurrency for the last 2 years. But the Chinese government started to ban it from the first quarter this year. Ok. Let's predict the future. The Chinese government will accept crypto transactions.

[tygeade]

I don’t know if the news about China is what is really making the price to go down or maybe it's just the regular up and down movement That We usually see in the market. It can just be a coincidence that this is happening when they are making such a statement. There has been times that the market will go down and people can’t tell what has caused it, and all they would do is start looking for what they would say is the cause of the decrease.

Maybe one news or the other might pop out and they will use it as the cause of the decrease,  when that is really not the case. We have all known that the Chinese government has been against Bitcoin for years now, so I don’t think this should be something that we should still be talking about by. That they make a statement that they have been making for years wouldn't be a reason that the price will go down all of a sudden, when we know that they have been making that same statement for many years now.

[andeluna]

I dont know if china is banning crypto currency in their country but base to the link you provided and as other say its a fake news. China is a big economy thats why they think crypto currency will be a treat to their economy because we all know that most of the big whales in crypto currency are in the U.S thats why some people make a fake news and articles to make a bad effect to crypto market.

[Tashana]

I dont know if china is banning crypto currency in their country but base to the link you provided and as other say its a fake news. China is a big economy thats why they think crypto currency will be a treat to their economy because we all know that most of the big whales in crypto currency are in the U.S thats why some people make a fake news and articles to make a bad effect to crypto market.

No, this news is true. China’s news of a total ban on cryptocurrency is true because they need to defend financial stability. China has developed rapidly in recent years. The Chinese government cannot allow any factors to affect their stable development.

[raidarksword]

I had been hearing this every year yet they not banning at all, they just want to make FUD just to buy at low price. Same old news, yet everyone still panic and I don't know why people still believing this stuff anyways hence china also holds bitcoin. Anyways, only newbies fall for this old and recycled news every year and only strong hands will be victorious in this industry. HODL is the key in this industry.

[Banulit]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

Well its been always a scenario in the crypto-space that china announces crypto as illegal that creates FUD but after that they will lift the ban because they already accumulated an enormous addition in their reserved.

[kak uli]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I think China has the power to shake the market with a statement issued by them, just look at the market conditions after the statement from that country!! we can see that all prices have corrected or decreased. But we need to understand together that China has banned digital currency for the umpteenth time, but it has not made digital currency worse. Therefore I consider the Chinese state ban has no effect globally but only for panicked people who are afraid of losing their assets.