Bitcoin-hostile China makes its own crypto
- China called bitcoin fraud, denounced other crypto coins and banned the trade but now comes with its own crypto coin.
The market sees the disapproval from China as a smokescreen, while other coins were barred, Beijing was given time to develop its own currency. Due to the size of the own market, the currency would be a serious threat. In China, successful coins had already been mined like the neo and to a lesser extent the tron.
The DCEP (Digital Currency Electronic Payments) will be launched next year, reported Zhou Xiaochuan, chairman of the central bank. The purpose of this platform is to facilitate payments throughout China.
It has become very difficult for Chinese people to invest in crypto coins since last week. The large platforms are blocked.
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