Chinese authorities have urged businesses not to get involved with crypto.

[Paha87]

Several financial regulators have issued a statement urging businesses not to engage in cryptocurrency trading, which violates the country's laws from 2017.

This call came after the authorities noted the growing volume of cryptocurrency trading. After Chinese President XI Jinping announced a state policy on the development of blockchain technologies. Many took it the wrong way and the interest in cryptocurrencies has risen sharply. In this regard, the authorities had to strengthen the methods of struggle, the media reported on searches in the offices of crypto-exchanges and blocking their accounts in social networks.

The original article here -https://coinpost.ru/p/vlasti-kitaya-prizvali-biznes-ne-svyazyvatsya-s-kriptovalyutami

[Zed0X]

I still remember those articles released by well known crypto news sites about the Chinese authorities conducting raids on exchanges like Binance. It turns out that those news weren't verified lol. This particular article is probably just one of those many fake news to spread FUD.

Even it this was true, I wouldn't be too concerned about it. China has been firm for years and yet crypto is still here.

[Noverteno]

Such a statement by the Chinese authorities may well be true. The Chinese government has long been negative about Bitcoin and another decentralized cryptocurrency. Now they are developing a national stable coin and will try to replace with it the population's need for cryptocurrency. Let's see what happens.

[Senin]

Well, this news is probably not a surprise for cryptocurrency users and, in all likelihood, will not affect the price of cryptocurrencies in any way. The Chinese government has long held the position of restricting the circulation of decentralized cryptocurrency in the country. Yes, now there is great hope for its national stable coin and therefore a policy is being pursued to eliminate its potential competitors.

[vicoma4real]

Despite this, Bitcoin and other crypto-related are unstoppable. Nobody, country or region can hold decentralized economy down.

[Goodcat49]

That's not a surprise. Chinese course is to ban cryptocurrencies, but use blockchain technology in many ways.

[Fenix]

Of course, after the statement by the Chinese president about the need to introduce blockchain technology, many took it as a call for the use of cryptocurrency. This is not at all what the Chinese government is striving for. Therefore, it was forced to make such a warning. The government now hopes that the country's population will use the upcoming national stable coin, the digital yuan.

[Paha87]

Of course, after the statement by the Chinese president about the need to introduce blockchain technology, many took it as a call for the use of cryptocurrency. This is not at all what the Chinese government is striving for. Therefore, it was forced to make such a warning. The government now hopes that the country's population will use the upcoming national stable coin, the digital yuan.

All this is done in order to keep its billion population in a strong rein and financial cage. Digital yuan will not differ from a simple piece of paper, only in ease of use.