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Financial markets are facing the most serious since the 1929 crisis, people are looking for other methods to protect themselves from the impact of the financial crisis. One option being considered by a lot of people are encrypted currency.
Continue its anti-narrative long article encrypted response, the Bank of China in an article entitled "315 consumer protection financial interest" in. The post on March 22 letter posted on the official micro account of the bank.
In the post, bank officials warn the public about encryption monetary investment, and called on the three major scam seen in the exchange of encryption. Banks said:
"First of all, fraudulent transactions conducted with the robot is very serious. The average turnover rate of the top three foreign currency exchange encryption is much higher than foreign exchange license. Secondly, the existence of market manipulation in these exchanges, where forced leveraged final resulting in an explosion Exchange. third, money laundering is a big problem. "
Bank of China also pointed out that post, claiming that Bitcoin is a haven argument is wrong because it is too unstable. The bank urged people to protect themselves by giving up encryption monetary investment, so as not to follow the crowd.
China never liked encrypted currency trading
As reported last year Cointelegraph as Alipay ban and Bitcoin (BTC) and other encryption-related transaction currency.
In early 2018, local authorities began to crack down market making platform and other "similar to the Exchange" encryption currency-related services.
September 2017, Chinese regulators prohibit trade in local currency encryption, encryption and trying to hit all domestic monetary transactions.
Elastic bits credits
Cointelegraph analysis of March 21 showed that Bitcoin is designed for the financial crisis, so far, it works well.
