The People’s Bank of China announced their intentions to once again take up arms against digital currencies and to crack down on crypto trading. This unexpected move comes amid the hype in the crypto market due to the speech of the Chinese paramount leader Xi Jinping who appeared to endorse blockchain, even asking companies to capitalize on it. However, the central bank clarified that there is a difference between cryptocurrencies and blockchain technology and issued a warning against the risk involved in crypto trading. According to the Chinese authorities, “There are multiple risks in virtual currency issuance financing and trading, including false asset risk, business failure risk, investment speculation risk, etc. Investors should enhance their risk prevention awareness and beware of being fooled, being fooled.”
is is the reason of recent crypto crash? Then I think dump move will continue because biggest market will soon vanish
the biggest pit fall for the crypto 'investors' is thinking that the central banks, with all the guns in the world, will just sit there and see some fringe stuff take over without doing nothing. they didn't do much because there has been no market penetration... even btc.... but once FB wants to do Libra they all woke up... why? FB means instant global adoption. crack down is too easy.
Oh, how cute. The chinese government is trying to crack down on it again because the first time they failed. Too late to do anything now, because even if they banned it there are still hundreds of ways to get around it.
Lol, indeed, but you know crypto is alive because of constant fine-tuned bumps which can be associated with some "fundamental" news that goes straight into the support of "genuine public interest" theory of BTC. Simple as that but I love this manipulation on the fading market.