On September 4, 2017, the Chinese government announced a ban on initial coin offerings (ICOs). This ban marked a significant turn in the Chinese government’s attitude towards cryptocurrencies. Prior to the ban, the Chinese government had been relatively supportive of cryptocurrencies. In 2013, the government announced that it would not regulate Bitcoin. And, in early […]
Why China Hates Crypto
Cryptocurrencies are facing a major crackdown in China. Why is the Chinese government so opposed to digital currencies? The Chinese government has a number of reasons for hating cryptocurrencies. First, cryptocurrencies are a threat to China’s control over the economy. Because cryptocurrencies are digital and global, they can be used to circumvent Chinese capital controls […]
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