hasyu
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China Admits Crypto Ban Is Difficult.

Tue Apr 17, 2018 10:13 am

Cryptocurrencies’ prices slid on Tuesday, with Bitcoin falling more than 1% but maintaining above the $8,000 level.

Bitcoin was trading at $8,036.5 by 11:50PM ET (03:50GMT) on the Bitfinex exchange, down 1.43% over the previous 24 hours.

Ripple’s XRP token traded 0.33% lower to $0.65681 on the Poloniex exchange.

Meanwhile, Litecoin added 2.24% to $130.37.

A report from The People’s Daily from China received focus on Tuesday as it said the Chinese Academy of Social Sciences admitted banning cryptocurrencies is difficult.

“Both the traditional “private currency” and the new “private currency” similar to Bitcoin have affected the “monetary power” of the monetary authorities of various countries. However, from a technical point of view, it is difficult to achieve a complete ban on digital currency,” said Yang, a representative of the Academy.

The People’s Daily is regarded as a mouthpiece of the Chinese government. Its remark signified the government’s stance.

Meanwhile, the head of the International Monetary Fund Christine Lagarde said the advance of Bitcoin and other digital currencies could make the global financial system safer.

She said the tools built using the technology behind Bitcoin – known as crypto-assets, had the potential to revolutionise the world of high finance by making it faster, cheaper and safer, but warned of the prospect of “inevitable” accidents.

“Because crypto-assets know no boundaries, international cooperation will be essential….The IMF can play a key role by offering advice and serving as a forum for discussion and collaboration in the development of a consistent regulatory approach,” she said.
#cryptocurrency #bitcoin

Roger Dumas
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Re: China Admits Crypto Ban Is Difficult.

Wed Apr 25, 2018 11:51 am

Eh yes! It will be easy in no way for China to forbid crypto currencies. In spite of the volatility which the market of the virtual currencies faces, the numerical currencies already made a place on the worldwide financial system. Investor in the crypto converts into cash on the site Cryptoswatch, I think just as you that constructed tools by using technology behind Bitcoin will revolutionise the world of high finance.

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FXTradingPro
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Re: China Admits Crypto Ban Is Difficult.

Tue Jun 19, 2018 6:09 pm

Here is an article on how China may reverse the ban on cryptos:

https://forexmarketslive.com/china-may- ... urrencies/
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Xtoyak
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Re: China Admits Crypto Ban Is Difficult.

Sun Apr 28, 2019 4:39 pm

Banning cryptos would be very difficult for any country. Simply because it is a system that is decentralised and cannot be easily traced by governments. Better option is to allow it but with regulation in place to halt illegal activities

olliecrypto
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Re: China Admits Crypto Ban Is Difficult.

Fri May 10, 2019 11:27 pm

banning anything never works
look at : gambling, drugs, alcohol, sex work.
the best approach, at least to me, is for the government to tax it, make some money, and let people do what they're going to do.
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AnaName
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Re: China Admits Crypto Ban Is Difficult.

Sun May 12, 2019 1:47 am

banning anything never works
look at : gambling, drugs, alcohol, sex work.
the best approach, at least to me, is for the government to tax it, make some money, and let people do what they're going to do.
you mean that you pay taxes for using crypto, but all your business with it will be out of the government's control?

my_coin
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Re: China Admits Crypto Ban Is Difficult.

Sun May 12, 2019 10:11 am

It's hardly that any country will ban crypto...

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Jeckstercandoit
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Re: China Admits Crypto Ban Is Difficult.

Tue May 14, 2019 3:45 am

Well, if we talk about sports betting, then I know one pretty good portal for this business. Here is a link to their website https://1xbet.co.ke/ . I have been betting for a long time, so I can say that I understand this well. In addition, this bookmaker has quick payouts and a very user-friendly interface. Try
Normal People Scare me

africuniaBank
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Re: China Admits Crypto Ban Is Difficult.

Fri May 17, 2019 12:46 pm

Yes it is difficult for a country to ban bitcoin and other crypto currencies because nowadays cryptocurrencies are using world wide and also they are using by many people so this is tough to ban bitcoin.

Vlad96
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Re: China Admits Crypto Ban Is Difficult.

Tue May 21, 2019 10:15 am

We should consider that Japan and South Korea are crypto-friendly countries so in this situation it is not profitable for China to ban Bitcoin

Zulkijar52
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Re: China Admits Crypto Ban Is Difficult.

Tue Dec 03, 2019 6:25 pm

It's not difficult, it's simply impossible to ban bitcoin. It is not possible to track transactions with bitcoins; they are invisible to the police or the government. Any ban will only lead to the fact that bitcoin from a useful tool for everyone to turn into an illegal currency, which will be used by crime.

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Re: China Admits Crypto Ban Is Difficult.

Tue Aug 25, 2020 10:13 am

Can't ban a cloud
Whichever chain wins,the world wins ImageImageImageImage

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