China Is Determined to Continue Cryptocurrency Bans

China continues its determined stance to continue its cryptocurrency bans. China has completely banned mining.

China has decided to insist on its ban policy on cryptocurrencies. China, which gradually removed the cryptocurrency exchanges from the country after 2018, struck its biggest blow in May 2021 and banned mining completely. China, which dealt the final blow to cryptocurrencies in September, announced that it banned all cryptocurrency transactions in the country. The People's Bank of China evaluated the year 2022 with an online meeting it held today. Although the words cryptocurrency or Bitcoin were not used in the written statement made after the meeting, “virtual money” was emphasized and it was stated that the trading of such assets created speculation. The statement, said that the pressure on virtual currency trading will continue in 2022; "We will continue to maintain the high pressure on virtual currency trading speculations." Barry Silbert, the founder and CEO of Digital Currency Group, the parent company of Grayscale Investments, the world's largest digital asset management company, made an interesting claim on Twitter. Silbert said, "Word of the day: China will lift Bitcoin bans in 2022." His followers did not find this comment realistic.