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China Bans Cryptocurrency - Dismas - 09-25-2021
China has some interesting priorities. A couple of weeks ago they banned "effeminate men", now they've declared cryptocurrency illegal.
Quote:The Chinese Communist Party has certainly been keeping itself busy of late, and particularly concerning new technologies. The country is one of the world's largest cryptocurrency markets, but the government has long been suspicious of bitcoin and its ilk, and officially banned trading back in 2019 (though it was able to continue through the use of foreign exchanges). Now the CCP has gone a step further: the People's Bank of China today announced that all cryptocurrency transactions are illegal.
The translated statement is short and not-so-sweet: "Virtual currency-related business activities are illegal financial activities [and] seriously endangers the safety of people's assets." It makes explicit that engaging in such activities is now a crime and will be prosecuted, and that foreign websites offering such services to Chinese citizens are also illegal.
Read More: https://www.pcgamer.com/china-declares-cryptocurrencies-illegal/
RE: China Bans Cryptocurrency - mothered - 09-25-2021
It'd be Interesting to see the Impact It will have on Bitcoin's value.
RE: China Bans Cryptocurrency - laininthewired - 09-26-2021
No more femboys and altcoin pumping
RE: China Bans Cryptocurrency - Dismas - 09-26-2021
(09-26-2021, 01:05 AM)ballsinmyface445 Wrote: No more femboys and altcoin pumping
Social credit score ruined forever.
RE: China Bans Cryptocurrency - Drako - 09-26-2021
China has really been going through some radical changes lately. Maybe Cultural Revolution 2.0?
RE: China Bans Cryptocurrency - Accident Man - 09-26-2021
They just ken their real estate market is fugged and they are trying to deleverage other notionally theoretical assets ahead of the avalanche that allows their citizens to hold something other than what is about to become their shizzy money.
RE: China Bans Cryptocurrency - Boudica - 09-26-2021
Interesting. I wonder what they're going to make illegal next.
Their ban on effeminate men wasn't just that, it was a ban on anything deemed "immoral". How far will they take it?
RE: China Bans Cryptocurrency - Accident Man - 09-26-2021
(09-26-2021, 09:53 AM)Boudica Wrote: Interesting. I wonder what they're going to make illegal next.Skinny jeans?
I heard that they are already looking into making "effeminate styles" illegal.
RE: China Bans Cryptocurrency - Spooky - 09-26-2021
Banning feminine men was based. Banning cryptocurrency is smart on their end, as they are going to be rolling out the Digital Juan. Which will eventually be backed and only accepted for labor/trades. They already produce most products in the world, this could be done very easily.
RE: China Bans Cryptocurrency - mothered - 09-27-2021
(09-26-2021, 06:42 PM)Party Pete Wrote:They'll follow suit with North Korea.(09-26-2021, 09:53 AM)Boudica Wrote: Interesting. I wonder what they're going to make illegal next.Skinny jeans?