$BTC
China is issuing a decision that could destroy the future of cryptocurrencies in the short term
China 🇨🇳: Talks about a new comprehensive ban that may even include individual ownership of cryptocurrencies, causing selling pressure and fear
For news 📰: Reports are talking about a new Chinese ban that could include individual ownership and storage of digital currencies, which is a significant escalation from the previous ban on trading and mining.
Credibility ✅️: There are doubts (such as from Forbes) that this is just a tightening of existing laws against using crypto as currency and money laundering, rather than a new ownership ban.
Impact: If a ban on ownership is confirmed, it will force millions in China to sell, potentially causing a price crash and increasing global panic. Even rumors harm the market.
Context: The goal may be to promote the digital yuan and financial control, which contrasts with Hong Kong's regulatory approach.
Summary: The Chinese threat is serious in the short term due to the market size and the impact of news (even if it is rumors) on global investor sentiment.
