Quote from: BitAssetUS on November 25, 2019, 08:43:01 AM

The Shanghai Headquarters of the People's Bank of China said that in the process of promoting the blockchain technology, virtual currency speculation has gone up. Next, the cryptocurrency business activities in the area will be continuously monitored. Once illegal activity is found, it will be punished immediately, and it will be done early and prevent it from happening. The Shanghai Headquarters of the People's Bank of China said it would rectify illegal cryptocurrency speculation and remind investors not to replace cryptocurrency with blockchain technology. As soon as the news came out, Bitcoins market was also affected by it. It recently broke through the $7,000 level and continued to go down.

The good side is that it can be a filter for fake projects, so that projects that are properly maintained can be justified legally.
Because of illegal projects I could have the potential for money laundering which would also harm many people including investors and users.