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❕NEWS China tells crypto owners to HODL - by banning any crypto transactions

ElPaule

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There is now an official order in which the People's Bank of China has released a statement that any company or citizen is guilty of a felony if they trade in cryptocurrencies.
The Bank is committed to investigate any legal liability of related legal persons, unincorporated entities or natural individuals for criminal offenses.
 
it is a pity to read, sorry dude! I hope there will be a positive future. On the other hand as long as the ban is not by law but by policies of private in corporations there might be still a chance to trade and mine
Yeah there is absolutely a chance to trade and mine , because the government's did not ban it ,it's only the bank that have refused to process withdrawal and deposit I think
 
I think the situation is that cryptocurrencies are not fully ban in China and probably there are other ways the citizens are engaged in cryptocurrency activities .
 
Yeah there is absolutely a chance to trade and mine , because the government's did not ban it ,it's only the bank that have refused to process withdrawal and deposit I think
maybe there is a way to bypass this uncooperative banks by full online banks or foreign banks. Sorry to hear dude, and good luck with your crypto businesses!!
 
maybe there is a way to bypass this uncooperative banks by full online banks or foreign banks. Sorry to hear dude, and good luck with your crypto businesses!!
Since they banned cryptocurrency , i think the only method we have been using to withdraw to our local bank is through p2p that's the only method for now
 
The fact is that China believe it is still a threat to cryptocurrency market. It is also possible their last time crackdown on cryptocurrencies didn't have much effect on her citizens as they still trade and hold cryptocurrencies
But banning it won't be the solution. They should have allowed time for people to withdraw their money from exchanges and wallets before taking this action
 
Im surprised with the china's behavior towards crypto currency. As the world has opened the doors for crypto currency but china locking the doors will certainly have a impact on crypto value. China is a giant country and crypto do need china in order to become stronger currency.
 
There is now an official order in which the People's Bank of China has released a statement that any company or citizen is guilty of a felony if they trade in cryptocurrencies.
The Bank is committed to investigate any legal liability of related legal persons, unincorporated entities or natural individuals for criminal offenses.
China is taking a very firm stance when it comes to cryptocurrency and trying to stop it as a whole and i do understand the sentiment behind this because they are trying to promote the digital yuan, however i think that it can be quite counter productive.
 
I think they will only try their best but may not succeed in banning cryptocurrencies totally in the country some people will still find a way
 
China is taking a very firm stance when it comes to cryptocurrency and trying to stop it as a whole and i do understand the sentiment behind this because they are trying to promote the digital yuan, however i think that it can be quite counter productive.
Yeah i think there are some more reasons behind, first of all it is the promotion of the digital yuan, you are correct on this. But behind this is control. The Chinese government wants to control the people and their financial streams to prevent that lot of cash goes out of country and as well to see when induviduals become to powerful. Look what happen with Jack Ma or others. Co-operations like Tencent, Alibaba or similars are becoming to powerful and a treat against the claim of power of the communist party
 
Since they banned cryptocurrency , i think the only method we have been using to withdraw to our local bank is through p2p that's the only method for now
Very bad situation, it's a pity to hear. I hope the mindset is changing over time and you can buy a great house with the assets you hodl! All the best and a bright crypto future, my friend!
 
Very bad situation, it's a pity to hear. I hope the mindset is changing over time and you can buy a great house with the assets you hodl! All the best and a bright crypto future, my friend!
Yeah I think the best option is to just continue to hold for long ,if someone is willing to make more gains at the end of the day ,yeah I really hope crypto future is bright
 
In cryptocurrencies try as much as possible to have the mindset of holding your coins for long with this you won't use your floating capital but an idle capital so you don't do panic sales.
 
The fact is that China believe it is still a threat to cryptocurrency market. It is also possible their last time crackdown on cryptocurrencies didn't have much effect on her citizens as they still trade and hold cryptocurrencies
Well they do ban things and people still find ways around it like some websites people will just use VPN. It can also be done for crypto currency just not on Binance
 
Well they do ban things and people still find ways around it like some websites people will just use VPN. It can also be done for crypto currency just not on Binance
Definitely because some people's means of livelihood is in cryptocurrencies already and they will just need to find ways to engage until better alternative is sort.
 
There is now an official order in which the People's Bank of China has released a statement that any company or citizen is guilty of a felony if they trade in cryptocurrencies.
The Bank is committed to investigate any legal liability of related legal persons, unincorporated entities or natural individuals for criminal offenses.
China is power drunk and can do anything at their disposal because of the level of self dependent they have,it's better to stick with their policy and see how things unfolds than doing other wise.
 
The good news and the crypto ecosystem is the fact that China is no longer a threat and they will have to line up again when never you decide to join the cryptocurrency trend again.
 
This is really bad I just which exchange platforms could create another way for the citizens to have access to crypto trading , because it's limiting some citizens potential to gain from the market
That's the truth, I know the government is trying to uplift their own digital currency and their fiat currency but an avenue for those that want to trade on crypto currency wouldn't have been a bad idea. I think the two currency can work side by side if given the opportunity they both needs.
 
That's the truth, I know the government is trying to uplift their own digital currency and their fiat currency but an avenue for those that want to trade on crypto currency wouldn't have been a bad idea. I think the two currency can work side by side if given the opportunity they both needs.
The important point is that they have to be given the opportunity in order to work in conjunction and create a very harmonious economy of financial infrastructure and so far I have not seen this happen because many people are trying to say that one is better than the other and this creates a lot of competition within the economy leading to people having to choose a side.
 
The important point is that they have to be given the opportunity in order to work in conjunction and create a very harmonious economy of financial infrastructure and so far I have not seen this happen because many people are trying to say that one is better than the other and this creates a lot of competition within the economy leading to people having to choose a side.
picking of sides I think is really done by the government here, they are the ones trying to put a stop to the crypto use in the country so apparently they have taken sides already and they are even compelling the citizens to do same by banning crypto use. Government should an enabling for the two to strive same with no discrimination.
 

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