Is there literally any truth or evidence to that? I am in the camp of "no shit it's because a wealthy country just banned it from financial institutions" but I am open to actual evidence in the contrary. I have yet to see anything contrary.
Is there literally any truth or evidence to that? I am in the camp of "no shit it's because a wealthy country just banned it from financial institutions" but I am open to actual evidence in the contrary. I have yet to see anything contrary.
China's ban of financial institutions participating in crypto is longstanding. They've just reaffirmed it. Like the Chinese said, it's a purely speculative asset. It has some big players who control incredibly large stakes. Understanding some of these huge swings is like reading tea leaves.
From forbes
>The guidelines, which reiterate a previous ban from 2017, also bar financial institutions from accepting or using cryptocurrencies in payments or settlements, developing digital currency exchange services and offering any such services to clients.
So looks like they are stepping up their fight against it.
Also from Finacial times
>The Inner Mongolia Development and Reform Commission said that it would set up a telephone hotline through which people could report suspected mining outfits as part of an effort to “comprehensively clean up and shut down” these operations.
I had only heard about it recently, when was the ban instituted?
2017
Thanks!