China bans all crypto use

China bans all crypto use

Chinese state is nothing but thorough.

In a carefully planned state of surveillance there’s no room for services that could connect Chinese people to the outside world, and even less – for libertarian inventions that cannot be censored. Bitcoin and other crypto, of course, should be banned in order for the state to exercise a complete control over its subjects’s minds, wallets and actions.

Moreover, what good could the digital yuan be if people could choose an independent money controlled exclusively by themselves?

The recent China’s crypto ban is the last in the long series of similar bans, and the most explicit: buying, selling, and otherwise dealing in crypto is now illegal.

It is not a surprise, and it won’t impact Bitcoin and the worldwide crypto adoption. It’s a shame though that the darkest Orwellian visions are becoming reality in the world’s most populous country.