Over the past year, the cryptocurrency market took a set of punches that were heavy . The market took the strikes but the combos have taken its toll in cryptocurrency investors. The marketplace performance in 2018 pales in comparison was a banner year for the cryptocurrency marketplace with growth and all the focus it has achieved. The extreme price volatility compelled the Central bank to adopt more extreme measures, including the ban of first coin offerings and clampdowns on national cryptocurrency exchanges. Mining factories in China were forced to close down, citing electricity consumption shortly after. Factories and exchanges have relocated to avoid regulations but remained available. Nonetheless, they do not escape the claws of the Dragon.
In the series of government-led attempts to monitor and prohibit cryptocurrency trading among Chinese traders, China expanded its Eagle Eye to track foreign cryptocurrency exchanges. Firms and bank accounts suspected of carrying out transactions with overseas crypto-exchanges and activities are subjected to steps. There have been rumors among the community of measures to be enforced on platforms that permit trading among investors.
The March towards a Blockchain Nation Governments and Central banks have struggled to grapple with the rising popularity of cryptocurrencies but one thing is certain, all and blockchain have adopted. Despite the Cryptocurrency crackdown has been gaining adoption and popularity . The authorities embracing the technology and have been encouraging blockchain initiatives. In actuality, the People Bank of China has been working on a digital currency and has conducted mock transactions with a number of the nation’s commercial banks. It is unconfirmed if the currency will be decentralized and provide features of cryptocurrency like anonymity and immutability. If it turns out to be a Chinese Yuan given that anonymity is the thing that China desires in their country, it would not come as a surprise. Created as a substitute of the Yuan, the currency will be exposed to financial policies and laws. As for whether there will be additional regulatory measures, we will need to await orders from the higher authorities.
The China Public Information network security supervision agency is under the Ministry of Public Security. The market is filled with Pointless and Scams ICOs. Most unsavory investors are in it for the money and would care less about the technology and innovation behind it. The value of Crypto Bounties is derived from market speculation. Throughout the crypto-boom at 2017, take part with an advisor onboard, a team or an adequate hype and you are guaranteed at least 3X your investments.