THELOGICALINDIAN - Awardwinning announcer Colin Wu is cryptoTwitters arch to the Chinese columnist He extracted and translated the capital credibility of an commodity from CaiXin annual which is best accustomed by Chinese banking admiral Apparently they interviewed bodies abutting to the Peoples Bank of China and added government agencies and got their angle on this years abundance of Chinas crypto ban
The regulator’s angle assume acutely anachronous and out of bounds. So abundant so, that it seems suspicious. A smokescreen. The kinds of affair politicians acquaint the columnist to get them off the trail. Nevertheless, this is what the People’s Bank of China and added government agencies said about cryptocurrencies and mining:
We almost accept the aboriginal one too, don’t worry. Also, if you don’t accept Wu, here’s the aboriginal article for you to check.
Related Reading | China’s Ban On Mining Is Changing Crypto’s Landscape
What does the ban abide of this time?
As always, Bitcoinist was on the case as anon as they appear it:
And afterwards that, Bitcoinist analyzed the case from several perspectives:
Is the Chinese government arena dumb?
The affidavit accustomed in CaiXin’s address are surprising, to say the least. Do they absolutely accept that “Mining is of no use to the absolute economy” while authoritative millions of dollars every day? Could the government absolutely accept that crypto is a balloon and at the aforementioned time accede Ethereum as the belvedere for its CBDC?
Related Reading | Huobi Halts Futures Trading Services, Mining Pool in China as Regulatory Pressures Mount
Our sister site, NewsBTC, appear on the subject. Yao Qian, a affiliate of The China Securities Regulatory Commission, “spoke on The International Financial Forum (IFF) 2021 in Beijing on May 30th,” and said:
See, that’s what a avant-garde government with its anxiety on the arena sounds like. Are you cogent us that “Regulators appetite to absolutely abolish mining and Bitcoin”? That doesn’t complete like article an accomplished government official would say.
Or maybe, and apprehend us out, this is an advance on Bitcoin specifically?
