China Backed Publication: Terra LUNA Crash Vindicates Country's Ban on Crypto-Re

[sirty143]

China Backed Publication: Terra LUNA Crash Vindicates Country's Ban on Crypto-Related Activities

An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision... See more for yourself here.

Your opinion is greatly appreciated.

[TomPluz]

I think we have to give some credit for this China-owned and completely influenced publication for making something out of the collapse of Terra's UST in the crypto and blockchain market which then affected all of us in here. Maybe China is right in banning the whole of cryptocurrency including stablecoins because they want to avoid the chaos that can possible come down to the market and they want to avoid platforms that are not up to the challenge of the times. I am saying these things with a big sadness on my eyes because I am a 100% believer in cryptocurrency and its potential for real growth and people empowerment but in reality we are still dealing with people and people got human nature which technology can never be able to delete.

[Ben Jonas]

The recent meltdown of the Terra blockchain's LUNA and the de-pegging of the UST stablecoin, according to an op-ed piece published in the state-backed Chinese journal Economic Daily, vindicates the Asian country's decision to outlaw crypto-related activity. The author of the post blames the current market fall on interest rate hikes by the US Federal Reserve and the buying and selling of crypto assets by various investment titans.