Jakarta, CNBC Indonesia – The Chinese government seems to be showing its seriousness in blocking the currency rate crypto-. This time the country led by President Xi Jinping decided to block accounts on social media related to Bitcoin cs.
Launch Reuters, over the weekend, access to multiple accounts related to cryptocurrency on Weibo blocked. The Chinese government even wrote a message saying each of the accounts “violates laws and regulations”.
“It’s Judgment Day for crypto,” wrote bitcoin commenter Weibo who calls herself “Woman Dr. bitcoin mini”. His main account was also blocked on Saturday (5/6/2021).
The freeze on Weibo came as Chinese media reported a slew of scams related to crypto trading. Not only Xinhua, this is also reported by CCTV.
CCTV even says cryptocurrency is a lightly regulated asset that is often used in black market trading, money laundering, arms smuggling. Even crypto is used for gambling and drug dealing.
Actually, China’s sentiment towards Bitcoin cs has started since a few weeks ago. At that time the authorities emphasized that financial institutions should not be involved in business cryptocurrency ssuch as trading or helping to convert fiat into digital coins.
However, this ban dampened the enthusiasm of Chinese citizens in buying this cryptocurrency. Their way to get out of this ban is to use a trading platform crypto-to-crypto like buying bitcoin with stable coin connected to the US dollar called tether (USDT).
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