It was only recently that we informed you about the friendly attitudes towards cryptocurrencies within individual states, but today we have a country that belongs to the countries with the least friendly attitude. As you may have guessed, China has decided to regulate everything related to cryptocurrencies, with the country’s top officials recently deciding to ban all accounts, posts, and social networking websites related to cryptocurrencies. Such strict bans are considered unacceptable by many, but China does nothing about it.
As you may remember, over the past year, China has banned all cryptocurrency transactions, mining, and advertising, claiming that they are “illegal and criminal”. China has long sought to control virtual currencies and keep them under control, saying the ban is necessary to “maintain economic, financial and social order.” However, the fact still remains that despite major regulations in the field of cryptocurrencies, China is still one of the leaders in cryptocurrency mining, as most crypto miners are mining illegally after the bans, and some companies are leaving the country to be safe.