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China Says All Crypto-Related Transactions Are Illegal

Labeled as news in Cryptocurrencies and Digital Currencies, started by Future Sensors, Sep 24, 2021

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  1. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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    China Says All Crypto-Related Transactions Are Illegal

    Bloomberg News

    24 September 2021, 11:40 CEST
    • Crypto currencies can’t be circulated, PBOC says in statement
    • Planning agency says crackdown important to meet carbon goals
    China banned all crypto transactions and vowed to stop illegal crypto mining, delivering the toughest blow yet to the trillion-dollar industry.

    Read more:

    https://www.bloomberg.com/news/arti...pto-related-transactions-illegal-in-crackdown
     
    Last edited: Sep 24, 2021
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  2. jhm

    jhm Glazed

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    Spoiling all the fun, geez China
     
  3. RogueWriter

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

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    Who wants to bet that ‘illegal’ won’t apply to the communist masters in China.
     
  4. The Durfer

    The Durfer Wesley Sweatman VIP

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    They will still have to have some kind of foreign exchange at the banks since el salvador and others are following changing their national currency to bitcoin. hmmm.
     
  5. CraigD

    CraigD Top Contributor VIP

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    Also:

    China's economy is currently in a very precarious position with their largest property developer about to default on massive loans. This will likely impact other nations.

    Having so much money tied up in untaxable wealth certainly doesn't help their situation.
     
  6. CraigD

    CraigD Top Contributor VIP

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    I meant:

    "Having so much wealth tied up in untaxable crypto certainly doesn't help their situation."
     
    Last edited: Sep 25, 2021

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