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Chiner literally bans crypto

  1. #1
    Donald Trump Space Nigga
    China’s central bank said all cryptocurrency-related transactions are illegal, reinforcing the country’s tough stance against digital rivals to government-issued money.

    The People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and social stability.

    Naming bitcoin, ether and tether as examples, the central bank said cryptocurrencies are issued by nonmonetary authorities, use encryption technologies and exist in digital form, and shouldn’t be circulated and used in the market as currencies.

    China banned cryptocurrency exchanges from operating within its borders several years ago, but individuals in the country have continued to find ways to trade bitcoin and other digital currencies via over-the-counter or peer-to-peer transactions.
    https://mishtalk.com/economics/china-cracks-down-on-cryptocurrencies-all-transactions-now-illegal

    What does illegal even mean in the Chinese context? Actually illegal, or just not allowed, but not punished either?

    Coins are up since the move, especially since the jedis now want to regulate stablecoins like US Dollar Tether as banks.
  2. #2
    Originally posted by Donald Trump https://mishtalk.com/economics/china-cracks-down-on-cryptocurrencies-all-transactions-now-illegal

    What does illegal even mean in the Chinese context? Actually illegal, or just not allowed, but not punished either?

    Coins are up since the move, especially since the jedis now want to regulate stablecoins like US Dollar Tether as banks.

    its illegal to transact in these coins. no laws against owning loads of them.

    it is to prevent chineses from channeling their wealths (capital) out of china to preserve their rentier capacity. wealths that flows out of china will not recirculate in internal chinese economy, thus furthering income and wealth gap and runs contra to the vision of common prosperity xi envisioned.
  3. #3
    Solstice African Astronaut
    I can't imagine trying to get drugs in China
  4. #4
    NFT's still legal kek wwwwww
  5. #5
    pEEpEEpOOpOO African Astronaut
  6. #6
    NFTs are up up up mint OLD WHITE DUDES

  7. #7
    China is in on the New World Order cashless society as well.
  8. #8
    Sudo Dark Matter [my hereto riemannian peach]
    The world should retaliate by banning Huawei
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