In Red China
Hiding your money from the government is an obsession that far eclipses anything you have experienced in the US. They make drug lords look like pikers. So cryptocurrency is now illegal there. It is no surprise that China would summarily wipe out any and all competition for its own central bank-issued currency. Secondly, this is a form of capital control because many citizens were moving their wealth offshore with Bitcoin and Ether. That avenue is now closed.
The statement is the culmination of years of failed crackdowns on cryptos and is nothing new for a communist state. In 2013, the country ordered third-party payment providers to stop using bitcoin. Chinese authorities put a stop to token sales in 2017 and banned crypto exchanges from operating within its borders in 2019 but individuals in the country continued to find ways to trade bitcoin and other digital currencies via over-the-counter or peer-to-peer transactions. More recently, the country banned all crypto mining, which however only prompted miners to shift offshore.
LSP – a big investor in Dogecoin should be happy that he doesn’t live in China…
This is for Brian Lewis who may or may not have had the plague (and didn’t die). He felt ill and bought a two-test kit. Took both tests. One indicated that he had the plague. One didn’t. Brian lurks here at Virtual Mirage at times.
Ok, one comment. She got a little on her chin…
Name the Mystery Aircraft Below:
And for Bonus Points