Another news on top of all latest ones: China is AGAIN trying to ban cryptocurrencies and ICO’s. There has been already quite many attempts to do it, now trying again with putting stronger restrictions, cause so far all restrictions to invest in ICO’s and to trade on foreign exchanges has been failing.
Financial News, a People’s Bank of China transmitter, wrote: “To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICO’s. ICO’s and virtual currency trading did not completely withdraw from China following the official ban… after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions. Overseas transactions and regulatory evasion have resumed… risks are still there, fueled by illegal issuance, and even fraud and pyramid selling”.
It is incredible level of China’s government care for its citizens. Or is it care for something else? Well, I think we all know the answer…
One golden rule, which I think, many institutions forget: “We crave what we can’t have.” Sometimes it feels like all the restrictions are done to actually speed up an implementation of cryptocurrency to our lives.
There is interest, there is demand, there is strong “want” for cryptocurrency, so restrictions of some countries are just redirecting crypto flow to go through other more loyal countries. Crypto drop, which we see now and which is (looking on last year tendency) is historical tendency, means only the grow in front of us.
Don’t panic and be brave, future is bright!
NB: Earlier this article was published on our channel on Medium.com