Why would they do that? Why do they want to control everything? After all, crypto can bring much more benefit if everyone can fully use it.
Welcome to the news about countries trying to control the largest population in the world, it is expected China would come up with something to restrict the use of cryptocurrency when they were promoting blockchain last week and i am sure they are planning their version of digital coin and they might even force everyone to use that, China does not control the world market. 
Topic: China implements new strict controls on Cryptocurrency - page 2. (Read 661 times)
Why would they do that? Why do they want to control everything? After all, crypto can bring much more benefit if everyone can fully use it.
This is the wrong policy for China regarding cryptocurrencies, they should stop.
What can you do to stop them? Go and tell them to stop this because this is not the right way?China has the right to do it because they know the risk of having a cryptocurrency for trading. They are now focusing on making their own centralised cryptocurrency that only the government can handle. I don't know what would be the result of that but chinese people would eventually support that.
telling them to stop isnt really consider as a wrong way but as long as you have a valid reason to support your advocacy of stopping them who knows they might change thier mind and realize thier mistakes but i also think that they are doin this for a reason and one of those reason i think is because they are now creating thier own centralized crypto but i also dont think that all chinese citizens will embrace it because i think that being too centralized isnt good anymore
This is the wrong policy for China regarding cryptocurrencies, they should stop.
What can you do to stop them? Go and tell them to stop this because this is not the right way?China has the right to do it because they know the risk of having a cryptocurrency for trading. They are now focusing on making their own centralised cryptocurrency that only the government can handle. I don't know what would be the result of that but chinese people would eventually support that.
telling them to stop isnt really consider as a wrong way but as long as you have a valid reason to support your advocacy of stopping them who knows they might change thier mind and realize thier mistakes but i also think that they are doin this for a reason and one of those reason i think is because they are now creating thier own centralized crypto but i also dont think that all chinese citizens will embrace it because i think that being too centralized isnt good anymore
I still don't want to associate or believe that it is this same news that caused the price of Bitcoin to go down. But as you know it, people will believe anything as the cause of Bitcoin price dip, especially when it has to do with China. Normally people associating the blockchain technology with cryptocurrency is a normal thing.
The blockchain technology became popular because of the cryptocurrency; not much about it was known till Bitcoin into the light.
The blockchain technology became popular because of the cryptocurrency; not much about it was known till Bitcoin into the light.
Definitely not the reason why, I see the market is just undergoing market correction from the previous increase, and will soon increase again for another reason of halving. going back to the topic, what China is doing to the blockchain implementations is an ideal thing most blockchain enthsiast country should do. In order to avoid frauds and scams, they should regulate blockchain like the way Chinese does. For this reason, only the chosen worthy blockchain projects would be in the market.
I still don't want to associate or believe that it is this same news that caused the price of Bitcoin to go down. But as you know it, people will believe anything as the cause of Bitcoin price dip, especially when it has to do with China. Normally people associating the blockchain technology with cryptocurrency is a normal thing.
The blockchain technology became popular because of the cryptocurrency; not much about it was known till Bitcoin into the light.
The blockchain technology became popular because of the cryptocurrency; not much about it was known till Bitcoin into the light.
China is pushing towards Global Blockchain Dominance by implementing nee strict controls on cryptocurrency, apparently this is not the first time we will see such news from the chinese government. But this is a huge step in the right direction.
This is the wrong policy for China regarding cryptocurrencies, they should stop.
What can you do to stop them? Go and tell them to stop this because this is not the right way?China has the right to do it because they know the risk of having a cryptocurrency for trading. They are now focusing on making their own centralised cryptocurrency that only the government can handle. I don't know what would be the result of that but chinese people would eventually support that.
telling them to stop isnt really consider as a wrong way but as long as you have a valid reason to support your advocacy of stopping them who knows they might change thier mind and realize thier mistakes but i also think that they are doin this for a reason and one of those reason i think is because they are now creating thier own centralized crypto but i also dont think that all chinese citizens will embrace it because i think that being too centralized isnt good anymore
I don't see anything wrong about the China's Headquarter's decision and statement. It is for the sake of their prestigious country who don't want to increase a crime using cryptocurrency. Also, I don't think everytime there is a news from China, we can blame them for the price dump happening in the market. Remember that it is always about the demand and supply that can affect the whole market.
Even I agree with this. China is trying to maximize the use of cryptocurrencies reading their this news and I think that they might also depict the rate of crime using cryptocurrencies but thinking rationally it is a challenging task. We all know how bitcoins are been used in the illegal activities anonymously and even if the records are tracked, it would not be easy to find out the source of the incoming funds as there already are a lot of mixers and those stuffs.Talking about the price dump, any great news from china impacts on the price of bitcoins because the population of china which is the world top country in terms of population. Now, we can imagine the number of investors from china and any news about the cryptocurrencies from their government might create a panic situation and it might surely affect in the price dump.
This can be helpful in curbing the crime related to cryptocurrency.
The crime rate has almost doubled since the last year. This step from the Chinese government for curbing illegal activities in fact will help in increasing the positivity around the crypto space and might bring more of traditional investors towards cryptocurrencies as the only thing traditional investors fear of was no regulations.
The crime rate has almost doubled since the last year. This step from the Chinese government for curbing illegal activities in fact will help in increasing the positivity around the crypto space and might bring more of traditional investors towards cryptocurrencies as the only thing traditional investors fear of was no regulations.
The good side is that it can be a filter for fake projects, so that projects that are properly maintained can be justified legally.
Because of illegal projects I could have the potential for money laundering which would also harm many people including investors and users.
when talking about adoption and acceptance from the government, we are certainly aware of the rules of the game they will set. So far, what PBOC has done is correct to eliminate negative tendencies. I am sure they will also be more stringent for what coins can be traded someday, even tighter than what the US has done. The economic motives of sovereignty must always meet the element of profit for the country itself. Because of illegal projects I could have the potential for money laundering which would also harm many people including investors and users.
The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.
The good side is that it can be a filter for fake projects, so that projects that are properly maintained can be justified legally. Because of illegal projects I could have the potential for money laundering which would also harm many people including investors and users.
This is the wrong policy for China regarding cryptocurrencies, they should stop.
What can you do to stop them? Go and tell them to stop this because this is not the right way?China has the right to do it because they know the risk of having a cryptocurrency for trading. They are now focusing on making their own centralised cryptocurrency that only the government can handle. I don't know what would be the result of that but chinese people would eventually support that.
Take a look at how China has treated google and facebook. They have sought to create the social network, the search network of their country. They create domestic e-commerce sites. Bitcoin and other cryptocurrencies are the technologies they have learned and the next step is that they seek to kill bitcoin and other cryptocurrencies to build their crypto. China has more than 1 billion people and they are aware that the market from their country is potential.
In terms of human resources, they have enough programmers to create their own blockchain.
It's indeed true, there has been a trend whenever something comes from the western world, Instead of z China going with the flow, they just decide to create a version of the very same thing or I will say duplicate it for its citizens for their very own reasons. With their stance against cryptocurrencies it wouldn't be surprising to see them outing their very own cryptocurrency. In terms of human resources, they have enough programmers to create their own blockchain.
Take a look at how China has treated google and facebook. They have sought to create the social network, the search network of their country. They create domestic e-commerce sites. Bitcoin and other cryptocurrencies are the technologies they have learned and the next step is that they seek to kill bitcoin and other cryptocurrencies to build their crypto. China has more than 1 billion people and they are aware that the market from their country is potential.
In terms of human resources, they have enough programmers to create their own blockchain.
In terms of human resources, they have enough programmers to create their own blockchain.
Well, there's a new saying in crypto sphere right now, "China shows that they have unban crypto, so that they can ban it again", LOL. Next to Russia, China is the most inconsistent as far as their support on crypto, in my opinion. That's why I take everything with a bag of salt news coming from China here. The only thing that is clear right now is that they are into blockchain and they're the leading country as far as filing a blockchain patent and it looks like they wanted to be a step ahead on this game.
The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening.
If they are looking for illegal activity and fake volumes and market manipulation then it is a good initiative by the government rather than a bad one, right now the market is recovering as i speak and it was evident that they have no plans to boost the currency part of blockchain but they will be implementing blockchain for their personal gains and hence these are not that of a surprise that they will implement strict control over the market. China has taken the right step looking at the future! The Chinese government is aware of the risks related to cryptos and decentralization! They are aware that serious financial frauds can be organized using cryptos and hence they want to roll out strict regulations to prevent such misconducts from happening! That makes sense!
However, don't link the current downfall with this announcement! Such news may have affected botcoin's price to a certain extent but not entirely! There are other things that might have played their part as well! Don't forget about upcoming black friday and Christmas!
Agree. It's impossible to say that just news from China 100% affected the price during last week. Thank you for reminding me about black friday! However, don't link the current downfall with this announcement! Such news may have affected botcoin's price to a certain extent but not entirely! There are other things that might have played their part as well! Don't forget about upcoming black friday and Christmas!
The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.
Well, this is a new step for changing. the illegal activities will diminish and those who will make a scam doings like other exchanges will afraid. in china they had a lot of exchanges or mostly of exchanges are made there. the top 5 exchanges on cmc are located in china so sure they are affected. they will if they do illegal activities. so soon we can be sure that our funds is in good hands if china is going to regulate it.
The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoin’s market was also affected by it. It recently broke through the $7,000 level and continued to go down.
thats good initiative from chinese government because this will bring more accurate usage of crypto in their country since the adoption is starting now.this means that China is serious on their plan of accepting blockchain.this is only a partial result because people from china or those who are relying on this country .
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