All crypto declared illegal in China!!!!!!!!!!!!!

[amihada]

I run mining with an application made by a Chinese person and now that application has been closed maybe because the Chinese government has banned any type of crypto in their country but the Chinese ban has no effect on the price of bitcoin. I think the Chinese state is afraid of the collapse of their country's currency, so they prohibit crypto in their country. The government is worried that later their citizens will transact using digital currency and the currency in their country will automatically collapse, the economy in their country will decline.

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[carrigan]

I don't think it has much effect on the crypto market. China has rejected cryptocurrency for a long time and since then Bicoin has not experienced a crisis, in fact Bitcoin is getting better and better. Bitcoin is increasingly being recognized by many people and getting a lot of support from various countries. Bitcoin is an enemy of banks, whether it is a central bank or other commercial banks. It is difficult to control even the government, perhaps this is the reason many countries have not legalized Bitcoin such as China.

[Rampagoe004]

The decision taken by the chinese government today certainly raises many questions among other countries because they are a country that has been in the crypto world for a long time suddenly banning all crypto currency transactions, and this will trouble those who have been in the crypto world for a long time and have benefited greatly, and they should also know that with the ban it will not have a bad impact on the value of bitcoin, And now the price is getting higher because many other countries have inaugurated transactions using bitcoin.

[sherenikaw]

there are several countries that reject crypto, including China, in fact I have heard news about China for a some time and it is heard back again. China also has an important role in the crypto world because there were many Chinese people who transacted crypto before but now China has banned it. actually overall it won't have a big impact on crypto projects or the future of crypto. it's just that if this makes many countries follow suit by banning it then it will be bad for the future of crypto. but I think it will be difficult to happen because we know the development of crypto is getting better.

[FlamingFingers]

China are doing all their possible best to see a way at which they can have full control of the market, there is a statistics that I saw recently, that shows that China is among top 5 holders of bitcoin itself, gone are those days when their Fud do have a high impact on the market, right now no one seems to care about them anymore because we are used to the Fud, they should keep on declaring everything illegal it's their way

[Gudhal Untu]

China is anti-cryptocurrencies, they are afraid of Yuan and the economy being disrupted because of cryptocurrencies, this is normal, but I'm happy because there is no impact from banned cryptocurrencies so prices continue to skyrocket without anyone being able to stop them.

[zaesvlas]

It is a pity that China took a different path. I think interesting events await us in the near future.

[Sir Legend]

Cryptocurrencies are unique investments, even though there is a lot of negative news such as being banned in China but the price of cryptocurrencies continues to skyrocket, this proves that the cryptocurrencies community is very strong and doesn't care about negative news, it is proven that today bitcoin has reached $64500 and I'm sure it will continue to rise

[yohananaomi]

I think the reasons given by China in some sense true. But I do support Bitcoin. Because Bitcoin is a medium. Bitcoin is not responsible for the way it wants to be used. Another issue is whether China is pursuing a new economic strategy by banning it. We have seen such activity through them before. I just wait to see how they prevent it.

I also agree that what China is afraid of is very basic and there really needs to be a solution. but we know that this is not the first time China has done something like this, we can be sure there are certain desires that are difficult to predict. is it not possible that China will make a replica of bitcoin, where we know that China is indeed famous for it.
It can always be ascertained that there is a hidden desire and it cannot be explained with certainty the intentions of China. I think it's true that we wait for further news.

[Joshapat]

I think the reasons given by China in some sense true. But I do support Bitcoin. Because Bitcoin is a medium. Bitcoin is not responsible for the way it wants to be used. Another issue is whether China is pursuing a new economic strategy by banning it. We have seen such activity through them before. I just wait to see how they prevent it.

The most important reason is that decentralized cryptocurrencies make the Chinese government unable to control the money in circulation so that it is afraid to be used for money laundering, and if cryptocurrencies become more massive then many people will switch the transaction system to cryptocurrencies and this can be problematic for the country's economy.

[blackened515]

Cryptocurrencies are unique investments, even though there is a lot of negative news such as being banned in China but the price of cryptocurrencies continues to skyrocket, this proves that the cryptocurrencies community is very strong and doesn't care about negative news, it is proven that today bitcoin has reached $64500 and I'm sure it will continue to rise

I have come to understand that Cryptocurrencies can't basically be stopped, China is not the first country to ban Cryptocurrency, Nigeria also banned it. But just as you said, despite the negative news been passed about Crypto, It continues to stay strong. Don't forget, that the Government always fight against what they can't control. If am not mistaken, this is not the first time China is placing a ban on Cryptocurrency, I can remember they banned Bitcoin in 2013, maybe they will uplift the ban with Time.

[Fortify]

China declares all crypto-related transactions illegal and forbids overseas exchanges from serving its citizens.

The PBOC said all crypto-related transactions are not allowed under the law.
Activities considered illegal cover a range of operations, such as buying and selling virtual assets as a central counterparty, and providing intermediary or pricing services for crypto transactions. It also includes token issuance financing, crypto derivatives transactions, and other activities suspected of illegal sale of tokens.

"Those who carry out related illegal financial activities that constitute a crime shall be investigated for criminal responsibility in accordance with the law,"

China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."

How will this impact Bitcoin and other cryptoprojects?? What do you think guys?

I think due to the very decentralized nature of Bitcoin that this will have less effect than the Chinese authorities would hope and may actually help wider adoption by Chinese citizens in general. They now know that it is a legitimate threat, which means it has reached critical mass and is now scaring the government so much that they choose to ban it. That means that if anyone is able to get hold of Bitcoin they may have a means to get money out of the country which is out of the reach of the CCP. It seems that this is turning into a big bonus for Bitcoin because there is a lot of money flowing around that country right now and looking for a way out.

[piebeyb]

news of crypto being illegal in china seems to have been a long time and in fact the news comes every time, but as we can see how bitcoin and other cryptos keep growing and once again China can't stop it and affect anything, we often see china news ban crypto until now people seem to no longer care about it because it's boring, until whenever china will continue to say it's illegal and crypto will continue to run

[bittraffic]

news of crypto being illegal in china seems to have been a long time and in fact the news comes every time, but as we can see how bitcoin and other cryptos keep growing and once again China can't stop it and affect anything, we often see china news ban crypto until now people seem to no longer care about it because it's boring, until whenever china will continue to say it's illegal and crypto will continue to run

The news still comes up even after a month like it's a big deal to crypto. But it really is, just think about how rich the people there in China are and their money going to Bitcoin.

The one thing that I'm curious though is that they are banning all transactions but what about the project that is based on China like the NEO or the Vechain. There were lots of news back when it first started that there are companies in China that will be using these chains for their products, the hopeful suddenly died inside when they heard this news about banning cryptocurrencies and all their transactions.

[geegaw]

Cryptocurrencies are unique investments, even though there is a lot of negative news such as being banned in China but the price of cryptocurrencies continues to skyrocket, this proves that the cryptocurrencies community is very strong and doesn't care about negative news, it is proven that today bitcoin has reached $64500 and I'm sure it will continue to rise

I have come to understand that Cryptocurrencies can't basically be stopped, China is not the first country to ban Cryptocurrency, Nigeria also banned it. But just as you said, despite the negative news been passed about Crypto, It continues to stay strong. Don't forget, that the Government always fight against what they can't control. If am not mistaken, this is not the first time China is placing a ban on Cryptocurrency, I can remember they banned Bitcoin in 2013, maybe they will uplift the ban with Time.

China seems to like to put themselves at the center of the universe and no matter what the field, they want their influence to be endless and people need to see their feelings, instead of acting arbitrary and personal and you are right that they have countless times of disagreeing with the general sentiment of the market, when we want to merge with crypto, they will stand on the other side to stop it and vice versa. People have grown tired of China's expressions lately and protested as a natural move after many collisions, now is the time to force them to look at the mind of the market

[barbara44]

China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."

How will this impact Bitcoin and other cryptoprojects?? What do you think guys?

So far we have seen that there isn’t anything much that has happened due to China banning cryptocurrency from their country. The price of Bitcoin and other cryptocurrencies would continue to grow because there are other people in other countries that are fully in support of it.

And another thing I would like to say is that this shouldn’t be a shock to the cryptocurrency community, because China has already been showing signs that they are not in support of cryptocurrency right from start, the government has always been fighting against cryptocurrency and which is why they proceeded with creating their own digital currency. So this was already going to happen.

[freedomgo]

China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."

How will this impact Bitcoin and other cryptoprojects?? What do you think guys?

So far we have seen that there isn’t anything much that has happened due to China banning cryptocurrency from their country. The price of Bitcoin and other cryptocurrencies would continue to grow because there are other people in other countries that are fully in support of it.

And another thing I would like to say is that this shouldn’t be a shock to the cryptocurrency community, because China has already been showing signs that they are not in support of cryptocurrency right from start, the government has always been fighting against cryptocurrency and which is why they proceeded with creating their own digital currency. So this was already going to happen.

Exactly, even the big miners who are operating in china before are force to sell their rigs due to the regulation of china aginst crypto. They cannot have a sustainable business if the government are not supporting crypto, actually mining business is good in china since the electricity rate is cheap but without the support fo the government that cannot be an advantage.

I don't even understand why people still are interested on negative news from china when we know in the first place that bitcoin trading is already ban in this country.

[worldofcoins]

Those are excuses for China, I've said that in my previous posts regarding China.

They don't want their control disrupted and bitcoin disrupts their control over what the citizens of china can own can't be controlled by them.
In any case the situation of China isn't going to improve but you'll definitely see some people moving out of the country like Miners of china did.

[chanler]

the impact of the prohibition of crypto in a country makes crypto lose some of fans but that doesn't mean the future of crypto can be threatened. crypto is still running and growing if indeed many countries still support it, China is only one of a small number of countries that prohibit crypto. each country certainly has its own authority to accept or prohibit crypto and we cannot equate one with another. what is clear is that if our country has accepted crypto then we must also make good use of it, there are still many people who want to take advantage of crypto but are hindered by regulations from their government.

[DewiKirana]

I already suspected that China would ban all Crypto, this can be seen from China's policy which has been known to control full rules against its citizens. This can have an impact on the circulation of Crypto which will definitely decrease.