THELOGICALINDIAN - Charlie Lee the architect of cryptocurrency Litecoin has taken to Twitter to articulation his doubts over the accepted Chinese cryptoban rumours
In a alternation of Tweets from today, the administrator abaft Litecoin claimed to “have a trusted antecedent that says that there’s no accuracy to China banning mining or network” and that “the FUD is broadcast by ample manipulators aggravating to accomplish money shorting. They apperceive that China ban FUD works and cannot be accurate wrong.”
He again went on to explain that he had not acclimated the advice as the base for any trades to advance his position, stating: “I accept not traded this and accept no affairs to buy or advertise in the abreast future.” He summed up by reaffirming that the barter ban is still “absolutely true.”
Since the alpha of September, abhorrence and ambiguity accept been abounding surrounding the absolute cryptocurrency abridgement and China’s role aural it. The admeasurement and appulse of the adjustment that the Chinese government is gluttonous to appoint are far from clear, and this has acquired rumour to broadcast wildly.
Lee joins John McAfee of MGT Capital in his skepticism over the claims fabricated amidst the association that the adjustment allegedly advancing out of China in the abreast approaching will extend to mining.
McAfee acquaint on Twitter on September 18, 2017, that Jihan Wu of Bitmain had abreast him that the Chinese controlling had no ambition of outlawing cryptocurrency mining. He again responded to his followers’ questions with absolute answers. When asked if Wu told him “if China is planning to shut bottomward mining”, he responded with, “they are not”. He went on to acquaint addition user that Wu “is added affiliated than me or [you]” and acclimated this as his acumen abaft assertive what he has allegedly been told.
For now, there is no official antecedent to aback up either Lee or McAfee’s affirmation so aloof how extensive any Chinese crypto legislation will be is still absolutely unknown. It does, however, assume counter-productive for the nation to outlaw the mining of cryptos. The action generates huge acquirement that feeds anon into the pseudo-Communist state’s abridgement and a ban would acceptable account said interests to leave for beneath adverse authoritative environments.
