For hundreds of years preceding the early 20th century, China’s emperors banned international trade and cloistered the country from the rest of the world. The so-called “closed-door” policy (闭关锁国) was partly a response to the Opium Wars with the British, who had been ruthlessly peddling the drug throughout the previous century and had addicted as many as 12 million people in the country.
Though crypto is hardly as addictive as opium, the current regime in China appears to be treating it with similar contempt.
Chinese Bitcoin Miners Look Abroad Amid Government Crackdown
Last week, Vice Premier Liu He, who also leads the State Council, explicitly denounced crypto mining and trading as a financial risk that would destabilize the country’s economy. As a result, large crypto mining firms halted operations and began to look for new homes abroad. Huobi and OKEx, two of the largest exchanges that serve investors in China, also suspended pool mining and leveraged trading
Źródło: https://decrypt.co/72276/heres-how-chinas-crypto-fud-will-play-out
