Topic: China has made crypto illegal is it true? (Read 547 times)

China has been doing this a lot of times already probably to see if they can affect the market and yeah, they probably can as we can see most coins are in decline. But just like what happened last year after their bans, btc eventually will recover. A lot of record breaking prices last year were made with china's exchange bans

Well, it was last year, they closed all the ways of exchanging the crypt, so for the Chinese, of course this is a strong blow and the general market has affected, but not so much that all the coins went into recession.

As I know exchanges are already banned, as they cause loses for economics.

those news are not a new trend into crypto world, china banned it 35 times and btc saw a correction than continued it rise above 10.000$

If it were true it would have appeared in the news.

According to an internal memo from a government meeting seen by Reuters, Beijing will continue to apply pressure to the virtual currency trade and prevent the growth of risks in that market.

National and local authorities should ban venues that provide centralized trading of digital currencies, including bitcoin as the biggest one, Vice Governor of the People’s Bank of China (PBOC) Pan Gongsheng said.

Regulators need to ban individuals or institutions that provide market-making activities, guarantees, or settlement services for centralized trading of the currencies, such as online “wallet” service providers, he said.

“The financial work conference clearly called for limiting ‘innovations’ that deviate from the need of the real economy and escape regulation,” Pan said, referring to last week’s meeting.

He added that the authorities should block domestic and foreign websites, close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide cryptocurrency payment services. He also called for local authorities to investigate services that help people move funds overseas.

Once a global hub for bitcoin trading and mining, China accounted for more than two-thirds of the world’s bitcoin-mining operations. Recently, however, Chinese regulators started cracking down on virtual currencies, explaining it as a fight with capital outflow. They claimed the trade in cryptocurrencies was being used by Chinese citizens to move cash abroad.

Maybe china will ban exchanges, that will be a huge influence to the market

https://cointelegraph.com/news/chinas-alibaba-launches-crypto-mining-platform-despite-restrictions-say-local-sources

If China bans Bitcoin, then the market will go through a lot of crazy stuff to go back to normal. Let's just hope they're joking this time.

Why are people in such a big nostalgia today as if they have never seen such a type of crash previously. Most of the things floating around Internet come with a tag line of "could" this means there are no reliable sources to such news just a big rumor on which the article is based. Each rumor affects the market so heavily and people today are like "korea banning crypto" "china banning crypto" and "the whole world against crypto" just chill out news will be everywhere on the internet if such a thing happens not only on a few selected portals.

 :)I think its better to be patient before we come to a conclusion, we all know BTC is trying to recover these days,so let's hold over positions and keep updated news and stuff, everything will be just fine after another 3-4 weeks.good luck!!

Billionaire investor "Warren Buffet" said "Bitcoin will end up badly"

It is completely fake news that China banned btc these are fake news manipulated just like the announcement of fake news spread by korea that they are banning btc.

China banned transactions and exchange sites for crypto. This is a temporary phenomenon, crypto currencies will return to their positions and will continue to grow in value.

I'm sure it's just a fake issue that is reissued to exacerbate the atmosphere in the market cryptocurrency. actually an issue like this already existed in the past year, around august (if I'm not mistaken) and what happens is everything is false news, after the news the price of BTC rose soaring

As of now, it's not true. Don't believe every single article your read, especially now during the dip.

Just so you know, people enter panic mode when they read "bad" and "china" in the media, and before you know it, 'panic sell' kicks in, meaning that the price will go down. Add to that all the FUD articles on the media right now, speculation and rumours on social media, and whale groups that are minipulating the market, well, at the end of the day you'll get this: a sea of red numbers across the charts.

And this is not a crash, not even close, you'll know when a crash is happening, you won't even have to ask people if it's actually a crash.

Get used to these swings in the price, we might see more of them in the future, that's how the market works.

Previous posters have repeatedly said China does this.  Ban. No ban.  It is just how the governments works.

Is this a bad thing, in terms of price?  Short term yes of course. Bitcoins price will fluctuate wildly on rumors and or news.  Negative news or FUD as its commonly referred to, has and most likely will drop the price further unless positive news soon follows.

Long term this is a good thing.  Healthy financial markets go up and down.  This bull market peaked in December and since, has steadily declined.

Stop listening to news for fucks sake, china hasnt banned bitcoin and price going down is something normal, buy low sell high.

Lol fud is been going on since always, china has banned bitcoin 20 times last year.

Also... I don't know why i bother since its all same user farming accounts fuding misguiding poor newbies.

this happened before 2017, when china banned all ICO's on their country and now they repeated again? , if this news is true its ganna have another worst effect on our bitcoin price and of course at all altcoins too, but i think it is another strategy of pump and dump (FUD NEWS) for they can get more profits on what will happen if they totally do that.

I heard the news today, resulting in the past few hours, all the COINS fall, we don't know this news is really false, I hope this is a false news, so the price of the currency will soon be back to normal