SolitudeSeeker
Sat Jun 08 2024
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7 answers
2076
Why did China ban bitcoin?｜The People's Bank of China argues that its ban on cryptocurrencies is . However, China's cryptocurrency ban comes amid fears that cryptocurrencies were facilitating capital flight from its markets, bypassing conventional restrictions.to curtail financial crime and prevent economic instability
Could you please elaborate on the reasons behind China's ban on Bitcoin? I've heard that the People's Bank of China justifies its prohibition by citing concerns over financial crime and economic instability. But, is there more to it? Were there specific instances or patterns that led to this decision? Also, how does the ban address the fear of cryptocurrencies facilitating capital flight and bypassing traditional regulatory measures? I'm interested in understanding the complexities and nuances behind this policy decision.
