by AndyH (Posted Mon, 05 Feb 2018 13:15:30 GMT+7)
Banning crypto completely? That's not what the article says.
They're banning ICO - initial coin offerings. And the rest of the world is cracking down on them as well. They're the 'crypto' version of an initial stock offering and most countries want them handled just like their stock counterparts.
As for the rest - China's restricting the interface betwen fiat and crypto and has been for a number of years. They're doing it because crypto works better than fiat for getting some of China's private wealth out of the country. This is about an attempt to maintain control, not about any shortcoming in crypto.
WetEV wrote:China is banning cryptocoins completely.
http://www.scmp.com/business/banking-fi ... letely-ban
Banning crypto completely? That's not what the article says.
They're banning ICO - initial coin offerings. And the rest of the world is cracking down on them as well. They're the 'crypto' version of an initial stock offering and most countries want them handled just like their stock counterparts.
As for the rest - China's restricting the interface betwen fiat and crypto and has been for a number of years. They're doing it because crypto works better than fiat for getting some of China's private wealth out of the country. This is about an attempt to maintain control, not about any shortcoming in crypto.