Will China's cryptocurrency ban spark a global crypto crisis?

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China has been tightening its regulations on cryptocurrencies. A recent move has been its ban on financial institutions, including banks and online payment channels, from providing services related to cryptocurrency transactions. What does China's crackdown mean for crypto in the country? Why has China tightened its regulations on cryptocurrency? How might China's ban affect the world cryptocurrency market? Tsai Wei-Tek, a blockchain expert and a professor from Beihang University, shares his views.

[georgerubert]

Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.

[umaralhasan]

Hello, I'm new to crypto/forex trading though I have been watching so many videos about forex trading, crypto trading and investments but yet I'm still making huge losses trading on my own, meanwhile I did so well on demo but I think the real market is manipulated... Pls someone should help me on a good strategy for trading or at least advice on how to make good profit through crypto investment 🙏🏻

[elchapojunior]

Thank you China for somehow being even more based than I thought

[ethanduncan]

Investing in crypto is the only big chance of making money

[tlking]

Yeah banning crypto while making your own crypto hyprocrite

[buscapee]

We will continue to buy crypto and we will continue to make money. Scared money don't make no money

[michaelschapiro]

It still qaulified as an asset. Its no different than buying a stock. But it had much more utility than a stock. You actually can exchange it outside the exchange. And when the move to proof of stake everyone will want bitcoin because it will literally generate money as all other assets lose value

[mr.cosmos]

What a roundabout complicated way of saying something so simple : no country is willing to lose sovereignty over monetary transactions in their own country.

[discoverchina]

Cryptocurrency ban is needed as these kinds of investment is not secure and will harm many stakeholders' interests, it will also harm the environment as well~

[spidey]

They should. Crypto is not reliable anyway.

[picandvideo]

Because the industry produces nothing useful but consumes so much energy wastefully. It’s like printing fake money digitally and convincing people to participate. Many kids seating around playing games seeing that as opportunity. It’s like entering VR. 😂🤣

[johnysilver]

As technology gets better it would be easiest to produce criptocurrency and it's only matter of time it will cost nothing

[unknownuser]

Hahaha, because China wants to push its own crypto currency. The main point of crypto is so it isn’t regulated so there will always be users wanting to use it

[jeffreystliow]

This concoction should be banned before every other MK starts churning out their own versions. How chaotic.

[mahadzirabdkarim]

False gold(like data)
Cause
Data can manipulate by "programers"

[vincentelmore]

just secure it with something like saaspass and you'll be fine

[Migsie]

Crypto will run side by side with national digital currencies such as the yuan. It will not go away because its decentralized structure was designed specifically to ensure no one central government or organization would be able to control it. The compromise would be to create a national digital currency on the blockchain that is backed by gold. This way governments could take advantage of all the inherent benefits of blockchain technology whilst having the stability of gold.

[picandvideo]

Definitely USA wants to push for that form of currency. One reason is the $USD is at the end of the road. There’s no more digit space for super computer to increase the debt load. Another the reason is that it allows USA to default all foreign debts. 3rd with the adoption it will allow USA to continue with hegemonic domination globally. Wonderful 👍

[lucybrunson]

NEED ELECTRICITY FOR HEATING AND COOLING NOT TO DRIVE THE COST UP ANOTHER LOSER

[blckbll]

The strange is while they ban but they admit they may use this technology.