How are the rules in China different from the past?

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Bitcoin trading and Initial Coin Offerings (ICOs) were banned in China in the second half of 2017.

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In August 2018, five departments and a joint board of directors issued a "warning on the risks of financial fraud against so-called 'virtual currency' and 'blockchain'. The report says it calls on the general public to consider blockchain rationally, not blindly believe in inflated commitments, capitalization and investment strategies, and effectively improve risk. .

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On May 18, the State Security and Reform Commission issued a statement calling for protests against mining and bitcoin mining, and the municipal government acting on behalf of the city immediately decided to shut down bitcoin miners. Currently, all Bitcoin transactions in China are closed. The blockchain still works, but in theory more Bitcoins created in China, and the Chinese powerhouse, which once accounted for over 70% of the entire Bitcoin network, has completely disappeared from the map.

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After an interview with the People's Bank of China on June 21. All cooperating organizations are really working on it, and according to the rules of the People's Bank of China, do not or engage in business-related virtualization, strengthen research and development efforts, and strictly regulate measures to ensure consistency. block virtual currency exchanges. Works. Link to the payroll hype. The ban on cryptocurrency trading by banks and financial institutions will inevitably shake the basis of speculation in the domestic cryptocurrency market at the financial level.

In the case of Bitcoin, mining belongs to the primary market and trading belongs to the secondary market, and this focus covers both the primary and secondary markets beyond the observations of existing controls. Compared to the status of '9.4' in 2017, the observation of '621' in 2021 seems heavier.

Where will the law go in the future?

Now, when it comes to local use in our country, the behavior of crypto assets like Bitcoin is very different. Some city courts have ruled that digital assets can be considered “private property” or “virtual assets” at a premium. There is also speculation that there could be a difference between virtual assets and assets such as financial assets under the Criminal Code and assets such as electricity and gas.

The reason for this big difference is that the accessibility standards are insufficient and that there is no decision of interpretation by the rules and regulations. It is of course difficult to establish a common model order.

Therefore, in the short term, monitoring the high consumption of our country's economy will also become the norm. So what about the future?

With reference to the past management behavior of our country for new, similar products, similar practices are the first to avoid the risk of being detected when encountering something new, and then gradually outline the laws and regulations to improve the 'economy. Let’s follow the judgment.

If this idea were followed, one would think Korea's attitude towards cryptocurrencies would be similar. We need to ban them first, then supplement the rules and regulations, and then gradually reduce them. Of course, financial security management remains a discreet place.

Together, the rule of law can be strengthened in the short term and rested in the long term, while the current rules will remain for the cryptocurrency itself.

| The behavior of exchange

In the UK, virtual providers are required to register their crypto assets with UK Financial Services. Otherwise, it will work illegally.

In countries like the United States, Singapore, Switzerland, and Malta, cryptocurrency exchanges are completely legal and require registration, and in some countries, registration is not required.

It is important that cryptocurrency exchanges such as Korea and India cannot be registered. Other countries, like Russia, Mexico and Nigeria, are gray areas that are either illegitimate or illegal, and their behavior is ambiguous.

| The national attitude toward me

In countries like Belarus and Iceland, mining is still very popular as a financial industry by the government. Iceland has very low electricity and air conditioning bills, so air conditioning equipment such as air conditioners are not required, and the heat generated by mines can also heat the house, making it suitable for the home. mining.

Countries otherwise, such as my country, India and other countries, are characteristic, and regardless of the law comes, and or misleading. Recently, some countries are welcome to invest in the only amount of information about various rules and welcomes Chinese Chinese.

some to zero

First of all, bad news. There will be a lot of resetting.

As we wrote previously on our personal blog, the distribution is coming. There are some good and new DeFi policies that have grown in business over the past few years, such as AAVE, Maker, Uniswap, Curve, Yearn, and Synthetix, but there are many other policies that can be included as well. So as not to die.

No problem. This is exactly how it should work, a bad, catastrophic process in which only the best projects survive. This is DeFi Darwinism. Too many attempts have been made, but most fail and no one has the right to survive. Consider first-gen Layer 1 contract chains (and to carry on, promise, and not deliver) and somewhat overrated tokens. I won't name them, but we all know how we feel. .

One picture of the scattering is "the separation of the wheat and the bran." Ideally, this would be the best solution on the market, because you only throw out the bad and keep the good.

Unfortunately, this is not true. Whether it's description, business model, player mix, or a mix of all three, relationships are high in the very early days of cryptocurrencies. The explanation that "Bitcoin is the biggest cryptocurrency, the rest is equal but different" brings the fate of the whole business, depending on the sentiment surrounding it.

This began to change, but it is very little. Each market is made of care, and the district science that are made by the latest ideas of new ideas and plans.

See the quality of the negative calls of calls are similar to keep the sits in fire. Everything will melt, but impurities will be harmful and leave a good one. Fire tests are the same way to measure the instrument that cannot be allowed, but cannot be allowed.

Various labels are about making mistakes and some of the facts. Not about the assets, reality is always arrested: 0 will be 0 means that it will be 0.

Especially if the only reason it's worth it is the price increase. know the sound? Naturally, cryptocurrencies have come to be known as “casinos”.

We can all take responsibility for removing these images.

As we have said before (we think we were better (we think we are better than 24/7 all the facts that have been completed at the job is a manufactured business. Like the product, Although. Because the calls are more agent to the agent, the sticker on the most low-number.

What are "HODLers"? The fact that people need to be aware of HODL itself means that the decision-making process is not its own. The fact that he needs to be warned indicates that the capital isn't as sticky as the memes make it out to be.

Why? Because little questions, there are little questions. "If this is zero function, it is to be reverted in the bull market, but when it is done, it will rewrite it because he was committed. All orders and money soon. No one decides that they were sold without meaning.

Of course, there are protesters who ideologically invest in their favorite jobs and decide not to sell them. Sometimes (like Bitcoin or Ethereum) sometimes not (like BitConnect).

Who knows if they really have diamond hands?

Unfair survival is enormous. Note that very few people are talking about HODL Zero Tokens.

“Manager consolidation allows us to measure the benefits of fixed benefits while minimizing the risks to consumers, businesses or financial institutions. With the rapid growth of digital assets, organizations have worked together to regulate business and make recommendations. The creation of a new policy is crucial. . "