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China declares all crypto transactions illigal

Labeled as events in Cryptocurrencies and Digital Currencies, started by Magul, Sep 24, 2021

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  1. Magul

    Magul White Bread is Head VIP ★★★★★★★★★★

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    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Kingslayer

    Kingslayer Top Contributor VIP

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    This is why I’ve not invested in crypto, its great people are making money on it now, in the same way people are making money on NFT's, but I think there is a limit how big it can become and because of that, it’s not real money and you can wake up one morning and not even see it coming.

    China is the first of many, if crypto starts getting too big for its boots, other countries will follow suit. For example America won’t allow it to be a threat to the dollar, EU won’t allow it to be a threat to the Euro, the UK won’t allow it to be threat to the pound.
     
    Last edited: Sep 24, 2021
  3. richardhope

    richardhope Established Member

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  4. The Durfer

    The Durfer Wesley Sweatman VIP

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    can they really do that? What about travel, countries are already making it there national currency? doesnt make since unless they arent going to recognize those countries. hmmmm.
     
  5. RogueWriter

    RogueWriter Top Contributor VIP ★★★★★★★★★★

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    They can’t take what they can’t find, so of course China wants to control crypto or make it illegal. It is too late, though. All this is going to do is make their businesses less competitive.
     
  6. DirkS

    DirkS Dutchman.info VIP

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    And tank the value of a lot of cryptos. Watch the Chinese as once people start massively unloading, nothing good will come out of that.
     
    Last edited: Sep 24, 2021
  7. DomainGaze.com

    DomainGaze.com Established Member

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    It's China. They can certainly do it.
     
  8. barybadrinath

    barybadrinath Restricted (15-30%)

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    I am sure many wealthy Chinese hold tons of crypto. What will happen to it now.
     
    Last edited: Sep 25, 2021

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