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China Bans Cryptocurrencies, Effects Emerge Months Later

December 26, 2021
Source: bitcoinethereumnews.com bitcoinethereumnews.com
News Snapshot:
- China banned cryptocurrencies back in September, but the effects emerged slowly, weeks and months later. The most badly affected bodies include businesses dealing in crypto, investors, and crypto exchange platforms. - Many crypto exchange platforms worked to obey the ban. Some removed a lot of features from the platform, while others restricted access for mainland Chinese users. - Exchange shares of global open interest were also affected, falling from 6% to 2%. OKEx saw a down from 30% to 8%. The relation of China with Bitcoin hasn’t been the smoothest. Earlier, China took some steps to eliminate all the...
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Tags: advertising | ban | bitcoin | blockchain | boycott | China | Chinese | crypto | cryptocurrency | currency | fintech | Hong Kong | illegal | IT | KONG | loss | market share | platform | service | share | shares | War

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