China has recently imposed a complete ban on all cryptocurrencies in the country, after which it has been reported that no citizen or institution can hold cryptocurrency in China. As a result of this decision, significant declines have been observed in the prices of Bitcoin, Ethereum, and other crypto coins.

According to reports, China wants to promote its official digital currency — "Digital Yuan" (e-CNY). This is believed to be the reason why China has taken a strong stance against private cryptocurrencies, so that only the official digital currency can have a place in the market.

This decision is affecting cryptocurrency markets worldwide, and there is uncertainty among investors. Meanwhile, countries like the United States are discussing using cryptocurrency as a strategy against China, particularly seeing Bitcoin as a symbol of the "free market."

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