The People’s Bank of China, the People’s Bank of China, claimed in a study that China’s share of bitcoin transactions dropped from 90% to 10%.
the central bank’s Financial Stability Bureau, March 3 published a report on the effects of cryptocurrencies on financial markets. In the report, peer-to-peer (P2P) activities It was stated that they stopped completely.
The report also:
China has completely curbed the digital currency “hype”. Its rate in Bitcoin transactions fell rapidly from 90% to 10%, and there were serious interferences with illegal financial activities.
it was said.
China, which is one of the countries that puts the most pressure on cryptocurrencies, has imposed too many bans on the crypto money market so far. Country first ban Bitcoin in 2013 transactions by banning had started.
In May 2021, China started to offer cryptocurrency miners in the country. had launched an operation and all mining activities He said he would ban it. After this situation, the miners in the country mostly Kazakhistan, Russia and to the USA had emigrated. At that time, the Bitcoin price was accompanied by this news. 29 thousand dollars had fallen so far. Also, the Bitcoin Hash rate is very serious decline even if he lives, in the past months again to their highest levels had reached.
After China banned cryptocurrency exchanges in 2017, according to Statista data, in August 2018, China’s local currency Yuan was exchanged. Cryptocurrency trading was almost zero.
Chinese citizens after China bans cryptocurrency exchanges VPN or using decentralized exchanges (DEX) continued to operate in cryptocurrencies.