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China Has Not Legalized Nor Put an End to Bitcoin Ban

Discussion in 'General Discussion' started by Arpit, Nov 9, 2018 at 10:48 AM.

  1. Arpit

    Arpit Moderator Premium Member

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    Throughout the past 24 hours, several publications and public figures have misreported that China has put an end to its blanket ban on bitcoin and the cryptocurrency exchange market.

    On Nov. 9, one cryptocurrency-focused publication released a story entitled “China Lifts Bitcoin Ban; Individuals and Businesses Can Now Own Cryptocurrencies Legally.” The article instantly attracted many investors in the cryptocurrency market, who demonstrated optimism towards the supposed unbanning of Bitcoin.

    However, the article itself was based on a court ruling of the Shenzhen Court of International Arbitration which was released on Oct. 25. The outdated and misrepresented story falsely led many investors in the market to manufacture hype around the asset class, in a period in which the cryptocurrency market is stagnant and struggling to initiate major upward price movements.


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  2. BitHostCoin

    BitHostCoin Contributor

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    in future crypto currency will be one of the fiat currency in all nations
     

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