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China Deems All Crypto-Related Transactions Illegal in Crackdown
- CynicusRex 5y agoGood riddance. After all, they're a mix of multi-level marketing, pyramid schemes, and Ponzi schemes, hidden behind a veneer of sophistication. https://www.cynicusrex.com/file/cryptocultscience.html https://www.cynicusrex.com/file/cryptocultscience.html.
- lowkey 5y agoAre you referring to the Chinese real estate market or crypto?
- ukoki 5y agoyes
- throwaway4good 5y agoIs this the "Sure, crypto is a ponzi. But so is everything else. Have fun being poor." angle?
- throwaway4good 5y agoIn line with their "common prosperity" policies. Probably for real this time.
- alex_suzuki 5y ago> Meanwhile, the nation’s economic planning agency said it is an urgent task for China to root out crypto mining and the crackdown is important to meet carbon goals. Of course they want to do it for the CLIMATE. Not at all because they can’t control it. Hypocrisy at its finest.
- ejanus 5y agoLooks like their economy is experiencing winter.
- throwaway4good 5y agoTheir economy is only of the major economies that has come unscathed (in terms of real growth) through the pandemic. My guess is that is why they feel emboldened to do these major moves. Also I think they foresee a major contraction in asset prices when global monetary polices starts tightening and are trying to get ahead of that.
- philliphaydon 5y agoWe can only guess that’s the case. Because they have lied throughout the entire pandemic we really don’t know what the effect of it has really had.
- TechBro8615 5y agoGood thing it’s only their economy and definitely won’t spread everywhere else! Kind of like that virus they had in Wuhan… that was a close one.
- Asraelite 5y agoOut of curiosity, have they made an official statement on how this holds up for proof-of-stake currencies?
- Proven 5y agowhich part of "all crypto-related" do you not understand? (I should refer you to certain parts of TFA but let's go with the title alone, maybe hoping you've tried to read the title isn't too much to ask?)
- spywaregorilla 5y agoI'm surprised the values haven't dropped more. How much of the demand for crypto was people trying to smuggle value out of the country?