C_NCENTRATE #586 - Illegal Crypto, crowdfunded space, 3D-printed houses, and animals thinking about death
cncentrate.substack.com
CHINA MAKES CRYPTO ILLEGAL China's central bank has deemed all cryptocurrency-related activities illegal and overseas exchanges providing such services inside China as unlawful. From trading to order matching, token issuance and derivatives for virtual currencies are all now illegal. China is showing the usually determined stance in a big move that rattled several markets (Bitcoin down +5%). Bejing cracked down earlier this year) that is unlikely to change soon. Whether this move is prudent or will spur other countries to open up to crypto remains to be seen. However, it is interesting that Indonesia has already said they are open for crypto business. Will the U.S. follow suit? The jury is out. Many see this as a way for the U.S. to gain a considerable advantage over China.
C_NCENTRATE #586 - Illegal Crypto, crowdfunded space, 3D-printed houses, and animals thinking about death
C_NCENTRATE #586 - Illegal Crypto…
C_NCENTRATE #586 - Illegal Crypto, crowdfunded space, 3D-printed houses, and animals thinking about death
CHINA MAKES CRYPTO ILLEGAL China's central bank has deemed all cryptocurrency-related activities illegal and overseas exchanges providing such services inside China as unlawful. From trading to order matching, token issuance and derivatives for virtual currencies are all now illegal. China is showing the usually determined stance in a big move that rattled several markets (Bitcoin down +5%). Bejing cracked down earlier this year) that is unlikely to change soon. Whether this move is prudent or will spur other countries to open up to crypto remains to be seen. However, it is interesting that Indonesia has already said they are open for crypto business. Will the U.S. follow suit? The jury is out. Many see this as a way for the U.S. to gain a considerable advantage over China.