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Crypto has recovered from Chinese FUD more than a dozen times over the past 12 years

September 25, 2021
Source: uktimenews.com uktimenews.com
News Snapshot:
Bitcoin’s price fell 8% today following ‘breakout’ news (read: several weeks old) that the People’s Bank of China, or PBoC, declared all transactions illegal of cryptocurrency. With that in mind, let’s take a nostalgic look at the past 12 years of FUD outside of China and see if we can spot any trends. China first banned “virtual currencies” in 2009 1: Chinese regulators weren’t exactly crypto advocates before the ICO boom of 2017. When cryptocurrencies were still in their infancy, that is, in 2009, the Chinese Ministry of Culture and the Commerce Department have banned the use of “virtual currency”...
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Tags: ban | bank | Bank of China | banking | bitcoin | blockchain | blocked | boycott | China | Chinese | Covid-19 | crypto | currency | Disinformation | finance | fintech | fraud | Hong Kong | Internet | mobile | News Media | Pandemic | Sina | technology | website

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