Altcoins Talks - Cryptocurrency Forum
Further Discussions => General Discussion => Topic started by: fire-man on July 19, 2018, 03:39:11 AM
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Why is China’s attitude towards cryptocurrency so cold?
If China's support for cryptocurrencies is available , it is estimated that any country in the world will recognize the value of cryptocurrencies.
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I think it is still a long way to go because until now china did not support cryptocurrency investment and government is also giving warning to chinese people to stay away in crypto.
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came across this article
Will China take a step back when it comes to cryptocurrency
China’s Economic Planning Body Label Bitcoin mining an ‘undesirable’ industry
China has a significant number of miners and crypto enthusiasts and before the banning for circulation of the virtual currencies, it used to be the leader among the world’s countries when it comes to the volume of crypto trading. The people of China were the first who became interested in these virtual currencies. Hundreds of mining farms aroused in the country before it introduced the restrictions on token sales. In February 2018, China decided to remove all the inland or coastal platforms related to virtual currency trading or ICOs in order to prevent financial risks.But both crypto trading and ICOs were not totally withdrawn from China even after the official ban on it.
After shutting down the domestic virtual currency exchanges, all the traders ran towards the overseas platforms and continued trading cryptocurrencies. But the People’s Bank of China (PBOC) had also tightened the regulations on these domestic investors’ participation in all those overseas transactions of ICOs and virtual currencies. In spite of all these ICOs and Blockchain projects were banned, somehow the country still holds the position of being the capital of global cryptocurrency mining. That is why the Chinese government now wants to phase out China’s vast Bitcoin and cryptocurrency mining sector.
Read more on: https://medium.com/digital-ticks/will-china-take-a-step-back-when-it-comes-to-cryptocurrency-6537cc123549
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The Chinese government has always been looking for its country's development path, and it should be said that now they have achieved great success in this. Therefore, in the cryptocurrency, it is looking for its own approach.
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Cause maybe cryptocurrencies is a bit new thing and there could be a lot of problems with that really. What do you really think of that ? Sounds really cool or there should be done something like that anyway totally and completely. They need to be carefull.
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Did they not ban cryptocurrencies last year? Or am I remembering it wrong?
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They actually ban ICO launch and advertising but i think that will definitely make a reversal in initial ban on crypto in the future. The future is yerning for a change and cryptocurrency and the blockchain is just the new economic solution to many nations of the world. This is just my thoughts.
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No matter how we all love this alt coins and all other possible solutions for that they all provide real serious threat to everything we may have in feature anyway. Do you see me going or how ? I am lost for example and we shouldn't be in rush.
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China needs to protect their own national interests and that is most important for them amongst all other things really. So I do not really sure what to expect, please understand me politely but do not overestimated everything what is going on with crypto.
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They actually ban ICO launch and advertising but i think that will definitely make a reversal in initial ban on crypto in the future. The future is yerning for a change and cryptocurrency and the blockchain is just the new economic solution to many nations of the world. This is just my thoughts.
So actual already existing exchanges aren't banned?
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Why is China’s attitude towards cryptocurrency so cold?
If China's support for cryptocurrencies is available , it is estimated that any country in the world will recognize the value of cryptocurrencies.
China has already created its own cryptocurrency, it is a good coin and will be used everywhere