Post
Topic
Board Altcoin Discussion
Re: China says all crypto transaction are illegal
by
superman184
on 28/10/2021, 16:55:46 UTC
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?
Haha.. They are not tired of spreading bad information about cryptocurrencies so hope there will be more in the future. I don't know if they are trying to convince investors to switch to their own digital currency or do they really want the crypto market to collapse? Because you know they keep posting the same thing every day or month. So maybe China wants to conquer space as it does even in real life when they claim the territory of another country.