Did China forbade bitcoins and cryptocurrencies that night? Let’s unfold the truth from false
News actually not information. The wave of concern tonight swept over Twitter, supported by rumors that China has again banned bitcoins and all cryptocurrencies. Once again, because the reputation has regularly persists over the years. This information spreads at lightning speed, evoking confusion. If the messages have something to scare … it’s not new. In fact, the condition of cryptocurrencies in China is a complex and recurring object. Say this situation together.
- She was panic on Twitter, suggesting a new expulsion of cryptocurrencies in China.
- China maintains its 2021 restrictions, but no new official ban has been announced.
Prohibition of cryptos in China: an endless story
China is a The main player in the global economy and its Effect on the cryptocurrency market It has always been considerable. For years the Earth has accepted a increasingly restrictive location With regard to this sector. Remember 2017, the key year when Beijing has banned fundraising in cryptocurrencies (ICO) and closed local stock exchange platforms. It was the first blow to the market. Local newspapers then called: “China prohibits ICO: Panic operators.”
Then, in 2021, repression was intensified. The Chinese government has declared illegal all cryptocurrency transactions and focused on mining activities. Chinese minors who then represented a significant part of the Bitcoin network were forced to close their operations or move to other countries.
This decision had the main consequences on Hasat Bitcoin, which fell spectacular before recovery. It is this “expulsion” of 2021 that is often a source of contemporary confusion.
The current economic context even makes China an important player in this industry, both in the development of its digital currency currency Le Yuan (e-Cny), and in the tests it founded in Hong Kong, the real open-air laboratory, as explained in this recent video.
What about the reputation of this night?
It is said that upset social networks are only the echo of these past events. It is very likely that it is a poor interpretation of older articles or publications around cryptological reports on China.
The Chinese Government has not made any recent official announcement Repeat or harden your position. The current situation is therefore as follows: transaction and cryptocurrency mining remains illegal in China. Citizens cannot directly discuss Chinese platforms.
However, it is important to qualify. Holding cryptocurrencies as private property is not explicitly prohibited. A Chinese citizen may therefore have bitcoins or Ethereum, but cannot negotiate it on national platforms.
The cryptocurrency market is very volatile and sensitive to nature reports, whether they are proven or not. A simple tweet, an incorrectly interpreted article or old information that is up to date may be enough to cause panic movements. Traders often use these rumors to handle courses.
In short, at present, China does not have “new” expelled cryptocurrencies. Pruning has already existed since 2021. The legends of that night are therefore unfounded and only the recinding old information. Always take the time to check your resources, especially on the X, before giving up panic.
(Tagstotranslate) China