China’s central bank said all cryptocurrency-related transactions are illegal and must be banned,
By the look of things, they're allowed to hodle what they already have
[as long as they don't use it for their transactions].
- I wonder how they're going to deal with decentralized exchanges?The Chinese government may also be responding to signs that miners are disguising their activities to stay in business.
I was surprised to see such moves are still being made in China... It doesn't take a genius to distinguish a normal data center from one that does other stuff
[all it takes is a single visit]!
its just sad to look at though on how they do perceive or view on things.
All of this is just because of their own CBDC!
It's only a matter of time before they realise their mistake & do a huge U-Turn.
They want to have full control and that's exactly the opposite of what a "U-turn" move would achieve.