China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."
How will this impact Bitcoin and other cryptoprojects?? What do you think guys?
So far we have seen that there isn’t anything much that has happened due to China banning cryptocurrency from their country. The price of Bitcoin and other cryptocurrencies would continue to grow because there are other people in other countries that are fully in support of it.
And another thing I would like to say is that this shouldn’t be a shock to the cryptocurrency community, because China has already been showing signs that they are not in support of cryptocurrency right from start, the government has always been fighting against cryptocurrency and which is why they proceeded with creating their own digital currency. So this was already going to happen.