Re: China says all crypto transaction are illegal

Quote from: Ever-young on September 24, 2021, 11:31:09 AM

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I had been hearing this kind of news here in cryptocurrency for several years now, its not a new things to me.
Yes, this China was one of the popular country, but their popularity won't affect the market of cryptocurrency
to down the market. And besides, crypto or bitcoin are both volatile in the market as well. And if they are telling the
truth, why the majority of the nations in the whole world not declaring as illegal things?