China war on bitcoin. They want to ban the cryptal trade

The Chinese government's offensive against the cryptanalyst market is under way. To increase control Beijing is considering banning digital currency trading.

The Chinese government is preparing tightening for the cryptalalyst market. At the beginning of September banned bitcoin trade officially registered in this country cryptowal investors. Under Beijing's influence, the second largest bitcoin exchange in Shanghai, BTCC, has announced that it will not conduct buy and sell transactions as of Sept. 30. Other stock exchanges followed: Huobi and OKCoin.

However, the government in Beijing is still not enough, even though China only accounts for 15%. the whole bitcoin trade in the world . With reports The Wall Street Journal shows that on September 15 at a special meeting presented the plan regulations, which would lead to a ban on trade krytpowalutami outside exchanges. There is talk of trading peer-to-peer direct transactions between sellers and buyers. This ban could affect special platforms specialized in conducting such transactions, both Chinese and foreign.

For China, controlling the cryptanalysts is a matter of sealing the monetary system. China is running a large-scale digitization process to allow the Beijing government to control the flow of capital. The crypts elude from this equation.

China has yet another problem. Chinese "miners" have a huge share in the global production of bitcoins, and thus in the global blockchain . It is worth remembering that cryptanalysts are simply a reward for providing computing power needed to create so-called. Distributed registers, ie blockchain. Blockchain, in turn, is becoming increasingly important in the global economy. So far, Chinese "miners" did not have to fear that the government would interfere with their "work". However, Beijing's new policy may also affect them.

The government offensive in Beijing did not particularly affect the value of the bitcoin, whose exchange rate after Thursday fell to 3.2k. dollars. rose to nearly $ 3.9 thousand, recording less fluctuations along the way.

This does not change the fact that if the reports from China are confirmed, the Beijing government will have one of the most restrictive policies against the cryptanalyst. Bitcoin has been a salt in the eyes of many governments for many years. Most of them take a wait-and-go attitude, and some, like Japan, have decided to officially recognize Bitcoin as a legal means of payment.