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

[24Kt]

China very often makes bad news about Bitcoin and Cryptocurrencies, and usually this has a big impact on the Bitcoin price. A big drop is imminent, and this is sure to be used by the big whales to buy Bitcoin in bulk.  Our advice if there is a big drop in the price of Bitcoin, we don't need to panic and don't sell your coins cheap. 
Remember that this kind of incident doesn't just happen once, and after that the Bitcoin price will definitely go up again. Keep calm with bad news like this.

How many times did China make a move like this and yet, bitcoin thrives? Bitcoin may drop but it will go up again. They are not the determining factor here whether bitcoin survives or not. If other countries are more welcoming with crypto, it seems that China is moving backwards in terms of crypto. Anyway, crypto activities will move forward even without them.

[Rengga Jati]

Every month, this country will release bad news about crypto. CHina always bans crypto from the start.
China will never support crypto because there are too many because of the many interests of the country and also various political elements and power there.
Now, everything about crypto is banned and illegal, as long as they are not touching this crypto world again, no worry, I know that this will give a bad impact on the crypto market. But it's done. It should be done and enough with this country if they state about legalizing all crypto activities in that country. DOn't even believe them again that someday they will legalize crypto, because maybe someday later, they will ban again it as they like.

[hatshepsut93]

At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.

The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.

[DarkDays]

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."

To be fair illegalities and crimes existed before crypto existed and it will not stop. Yes, crypto might provide yet another avenue but it also brings so many more benefits.

China is taking a harsh approach to crypto and it is possible that all this FUD is calculated and preparing the population for their own version of digital currency - it makes sense because it eliminates all direct competitors available in crypto and it would be interesting to see what stance they take on then.

[zanezane]

At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.

The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.

God I hope not, but given that China's foreign policy doesn't really involve meddling too much with the internal affairs of a country they're allied with, I think it's unlikely that it will ever happen, they want to be the opposite of USA when it comes to foreign policy after all.

[MaDeidre]

China's attitude towards cryptocurrency has always been a boycott and prohibitive attitude. Don't understand why they banned Bitcoin, what good is it for them? Just because Bitcoin is not controlled by the government? But China has a great influence on Bitcoin.

[KaliLinux]

It won't impact the market that long, what China left behind in demand will eventually be filled by other countries in the near future, plus they've been out of the game for almost a year already and this ban is just the final nail in the coffin.

I agree with you and I believe it is just a matter of time and after China has fully finished all their attack on Bitcoin and the general cryptocurrencies in their country, Bitcoin and all other cryptos will become normal as there might be no more FUD coming out of China.

At this point everyone knew that China really doesn't like crypto and sooner or later it will get completely banned. So this has been priced in for a long time already.

The most curious thing is whether it will make other countries from the China's sphere of influence do the same or not. My bet is that not really, crypto is really unimportant issue in the grand scheme of things, so the governments will keep ignoring it for now.

God I hope not, but given that China's foreign policy doesn't really involve meddling too much with the internal affairs of a country they're allied with, I think it's unlikely that it will ever happen, they want to be the opposite of USA when it comes to foreign policy after all.

True, I don't think that will be the case. I believe the way we have more Influential investors like Billioniers and other bigger Institutions investing in Bitcoin from other parts of the world can not be said for China, so I am guessing this will not likely happen in other countries as it is with China. 

[kanayaTabitha]

Actually i'm already immuned when china bad news are spreading because it was repetitive every year, since 2018 china crypto bans is always make the market crash but it will still recover eventually.
So i think this china news is not really work for people who already investing in crypto for years because it must be not their first time to see bitcoin or crypto ban in china. So we will keep holding our coins, and buy more with a cheap price if we have more free money.

[Wildwest]

If this is true it will definitely have a bad impact on the value of bitcoin, because China is a country that is very affected in the trading system, but the power of bitcoin has expanded around the world so this is only a temporary decline and the price increase will continue to occur in the future, and also the news spread is not necessarily officially issued by the chinese government so it still has a high possibility that the country will not ban crypto forever, Especially for now many other countries are deeply concerned about the crypto world and they want to use it as a legitimate means of payment, so we don't worry about the current news.

[velosepur]

China’s scrutiny and regulatory interests have popped up several times in the past eight years—and generally, that has resulted in a sell-off. Case in pointt: The price of Bitcoin fell few% to $42,200 on the news. But when the news cycle is over, inevitably, crypto prices have started to rise again.The storry from China has been fairly consistent through the years.

[MIldic1c]

This is the situation. I see a lot of gray industry chains in China using cryptocurrency transactions. This is a factor that greatly affects the economic security of the people of a country. No country wants to see the gray industry grow in its own country, even if China does not suppress encryption. I think there will be a second policy issued by China!

[the rise]

Yes, China is currently declaring crypto completely illegal. It seems like this has been happening for a long time because I've also heard about money laundering by exchanges in China. Since then, China has begun to restrict the circulation of cryptocurrencies in the country.

[Louis Harper]

I really hate China's policies to suppress cryptocurrencies. This has a great impact on the crypto market. As we all know, China is a superpower in the crypto field, and China's policies affect all people who buy cryptocurrencies!

[Ararbermas]

It's not surprising if it's true, because they already created their own digital currency since they ban crypto mining within the country, probably 4 months ago if I'm not mistaken . So this is the end of cryptocurrency in china, i mean no more problems when it comes to them. Lol for me in my opinion that's a good move because you know china is always the main reason why bitcoin and crypto market always going dip.. So this time after this for sure market will not be the same before..

[Natsuu]

Will this impact BTC? maybe a bit, but nothing to be worried about. China banning crypto is nothing new and has been proven to be not doing significant damage to the community.

Although regarding the policy in china, it is understandable, maybe, that they are banning it because they have a government who is communist yet the president holds the power. And decentralized assets is not a good thing to exercise if the country wants full control over its citizens.

[michellee]

Will this impact BTC? maybe a bit, but nothing to be worried about. China banning crypto is nothing new and has been proven to be not doing significant damage to the community.

Although regarding the policy in china, it is understandable, maybe, that they are banning it because they have a government who is communist yet the president holds the power. And decentralized assets is not a good thing to exercise if the country wants full control over its citizens.

So prepare for the dump just in case BTC gets the impact of that news. But that will not make BTC stop increasing someday because BTC is too strong and not getting impact too much. The dump will be the best time to accumulate more bitcoin to wait until the price increase later. Maybe China will regret it someday after they ban bitcoin. Or they want to buy bitcoin at a low price so they spread that news to the public and make people afraid and sell their bitcoin. That will make sense to understand if their reason to release that news is because of that.

[mksundip]

China's influence in crypto is very strong. I hope that with China having this controversial policy, we can take full control of crypto as soon as possible in another country so that the crypto market will recover. and the hope of all investors to be able to avoid China's unreasonable policies that only cause losses.

[Dhoe]

all types of crypto are declared illegal in China, maybe this will be the beginning of destruction between the government and their people, it can be said that their government and people have started to be out of sync, because we know the Chinese people are the first to play crypto, if the Chinese government forbids it all forms of crypto in their country, most likely the relationship between the government and the people will start to drift apart..

[Assface16678]

It does not matter that the Communist Party of China does not recognize crypto. It is accepted by the rest of the free world. Although they are intelligent and well-reasoned, they have something planned for the future. Their crypto ban is meant to ensure their population relies exclusively on their central bank's digital currencies. Are there any limits to how many times China can say it has banned or will not accept cryptocurrencies? Like people say, China does this all the time in order to manipulate the market more so they can buy up at lower prices. It won't last for long.

The government is afraid of what they cannot control so in order for it not to spread furthermore in there country, they immediately ban it. Also, as mentioned, they keep on manipulating the market price. Its so hard to do things when the government is watching what ever they are doing. People will  get tired of this news eventually and neglect it.

[cotton ball]

it can be said that the state is higher than everything, the government has the right to do whatever they want, sometimes the government will also make every effort that they think is the best, and sometimes the government also makes policies without discussing with its people, that's the government, even though the government makes decisions what is wrong, and harms the people, sometimes they don't care at all, because what is important for the government is their own stomach..