An article from miaocaiwang revealed that:
“The Chinese government will utilize blockchain technology for social taxation and electronic invoice issuance matters.” It's here but in Chinese: http://www.miaocaiwang.com/?do=articlelist
So China is not about turning against cryptocurrencies but they tighten their law about cryptocurrency for better control.
Topic: China is turning against cryptocurrencies?? - page 5. (Read 579 times)
China, having sovereignty, that is having the right over its jurisdiction, has the power to ban or forbid anything they believe is not good for its country. If the government sees cryptocurrencies as something that will leave negative corollaries to its circulation especially, its economy, then they can totally go against it.
China seems not to be in much favour of bitcoin. After ban of exchanges, most of the chinese people have lost their interest from bitcoin and crypto-currency.
If China forbade with certainty the miners migrated to another underdeveloped country and thus the cycle continues flowing.
Bitcoin had been in trouble when the central bank, aiming to stem illicit capital flows, ordered exchanges to halt virtual-currency withdrawals until they could identify their customers.
After bans on exchanges and initial coin offerings, bitcoin miners fear they are next
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