Pubblicato in: Banche Centrali, Cina

Cina. Dichiarate illegali le criptovalute e le loro transazioni. Un gran bel siluro.

Giuseppe Sandro Mela.

2021-09-28.

2021-09-25__ Cina Bitcoin 001

Il problema è semplicissimo.

Nessuno stato sovrano può permettersi che una valuta non propria possa liberamente circolare, essere utilizzata per transazioni, ma a prezzi di cambio stabiliti da realtà extraterritoriali.

Non a caso la Cina sta già sperimentando una sua propria criptovaluta, governata dalla banca centrale.

Dichiarando illegali le criptovalute e le loro transazioni la People’s Bank of China ottiene due risultati.

In primo luogo, elimina una considerevole quota di interferenze estere sul proprio mercato valutario.

In secondo luogo, minaccia e sottomina direttamente tutto il sistema organizzativo che intendeva utilizzare le criptovalute quale cavallo di troia per condizionare le nazioni sovrane.

* * * * * * *

«China’s central bank says all cryptocurrency-related activities are illegal, vows harsh crackdown»

«The People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited»

«→→ Overseas cryptocurrency exchanges providing services in mainland China are also illegal ←←»

«China’s central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market»

«the People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited»

«Overseas crypto exchanges providing services in mainland China are also illegal»

«Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity»

«→→ Workers at foreign crypto exchanges will be investigated ←←»

«Financial institutions and nonbank payment institutions cannot offer services to activities and operations related to virtual currencies»

«The price of bitcoin sank over 6.5% in 24 hours, last trading at around $41,882, according to Coin Metrics data at midmorning Friday ET. Ethereum, the second-largest digital asset, fell 9% to around $2,867»

«The PBOC also ordered banks and non-bank payment institutions like Alibaba affiliate Ant Group not to provide services related to crypto»

* * * * * * *

Come al solito, servirà del tempo per valutare i reali effetti di un simile provvedimento.

Ma, a valutare almeno le prime reazioni dei mercati, il colpo è stato ben assestato, anche tenendo conto del timing.

*


China’s central bank says all cryptocurrency-related activities are illegal, vows harsh crackdown.

– The People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited.

– Overseas cryptocurrency exchanges providing services in mainland China are also illegal, the PBOC said.

– It’s not the first time China has gotten tough on cryptocurrencies. Earlier this year, Beijing announced a crackdown on crypto mining.

*

China’s central bank renewed its tough talk on bitcoin Friday, calling all digital currency activities illegal and vowing to crack down on the market.

In a Q&A posted to its website, the People’s Bank of China said services offering trading, order matching, token issuance and derivatives for virtual currencies are strictly prohibited. Overseas crypto exchanges providing services in mainland China are also illegal, the PBOC said.

“Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity,” the central bank said, according to a CNBC translation of the comments. Workers at foreign crypto exchanges will be investigated, it added.

The PBOC said it has also improved its systems to step up monitoring of crypto-related transactions and root out speculative investing.

“Financial institutions and nonbank payment institutions cannot offer services to activities and operations related to virtual currencies,” the central bank said, reiterating past comments.

The price of bitcoin sank over 6.5% in 24 hours, last trading at around $41,882, according to Coin Metrics data at midmorning Friday ET. Ethereum, the second-largest digital asset, fell 9% to around $2,867.

Stocks with heavy exposure to crypto also slumped in premarket trading, with Coinbase down by nearly 4%, MicroStrategy slipping 5% and Riot Blockchain down over 6%.

It’s not the first time China has gotten tough on cryptocurrencies. Earlier this year, Beijing announced a crackdown on crypto mining, the energy-intensive process that verifies transactions and mints new units of currency. That led to a sharp slump in bitcoin’s processing power, as multiple miners took their equipment offline.

The PBOC also ordered banks and non-bank payment institutions like Alibaba affiliate Ant Group not to provide services related to crypto.

In July, the central bank told a Beijing-based company to shut down for allegedly facilitating digital currency transactions with its software.

China’s crypto crackdown comes as Beijing is looking to fulfill its climate targets. The country is the world’s biggest carbon emitter, and has set out to become carbon neutral by 2060.

Meanwhile, the PBOC is also working on its own digital currency. China is seen as a leading contender in the race toward central bank-issued digital currencies, having trialed a virtual version of the yuan in several regions.