After China declaring all crypto-currency transactions illegal, the government has targeted the cryptocurrency sector again.
China is preparing new anti-crypto policies
According to blogger Colin Wu, there will be additional anti-crypto policies introduced in the near future. However, Wu reminds his readers that the material does not necessarily reflect the views of Chinese Communist Party leaders.
China's official Economic Daily: More policies against cryptocurrencies are coming.
— Wu Blockchain (@WuBlockchain) September 30, 2021
China declared all crypto-currency transactions illegal
Last week, China declared all crypto-currency transactions illegal and started a war on cryptocurrencies. It’s not just for Bitcoin, and all trading activities using the virtual currency are now considered illegal finance operations. This happened after all Chinese major provinces banned Bitcoin mining this summer. Also, SparkPool, the largest Ethereum (ETH) mining pool in the world, announced that they are shutting off their services in China.
Elon Musk considers Bitcoin as a threat to authoritarian governments
According to Elon Musk, because Bitcoin is a threat to authoritarian governments, China doesn’t appreciate it.
