If China can close down that escape road it will have huge impact on BTC. https://www.bloomberg.com/news/arti...ccounts-tactics-used-to-get-cash-out-of-china ----------------------------------------------------------------------------------- Forbes yesterday article: https://www.forbes.com/sites/simonc...nts-are-the-enemy-of-bitcoin/?sh=754a5c3a6357 U.S. Government Clamp Down As if everything else wasn’t enough to turn investors off to investing in cryptos the U.S. government is clamping down on investments in these digital assets. Businesses will need to report crypto transactions of $10,000 or more, and crypto exchanges will need to report inflows and outflows at a gross level. These problems come after years in which investments in cryptos have come unstuck. They’ve been hacked, simply disappeared or the owner lost the required password. With both the recent history and the news this month in mind, it makes you wonder why anyone would stay invested in cryptos.
FUD, cash transactions >=$10k already require paperwork. A specific headline toward crypto's is short manipulation. As for china, an investor sophisticated enough to DeFi can navigate a VPN.
This is the original video: Watch how on top and at the bottom the original area was deleted. The CGTN logos were deleted as well as the date and the CHINA plate was replaced. Title of the video was:" President Xi Jinping urges countries to reject 'vaccine nationalism'"
That's why they introduce their own cryptocurrencies, it is completely traceable by central bank, BTC wont allow in China that's for sure. And BABA's is too valuable for China government, they will do everything just to take control of the whole company. Won't supprice me if they continue pushing the price down and even takeover or delist it so they can fully control it.
If they are government approved they are not blocked. All the rest they try to block. Government approved means that China decides what can be shown and what not.
Chinese miners have not even slowed down. In the world’s tightest regulated space for crypto investors, the same traders are bypassing regulatory barriers in the thousands. Chinese cryptocurrency traders and investors are circumventing the tough rules by means of foreign as well as local over-the-counter platforms. Another popular method is peer-to-peer networks. Both methods make it difficult for authorities to enforce their draconian regulations. Chinese users are reported to be using OTC and P2P networks via an array of virtual private networks. Over-the-counter desk activities have spiked ever since the Chines government introduced a majors crackdown on the local crypto market.