China Keeps The Foot On The Gas For Political Pressure On Bitcoin
For daily news, reviews, and educational content on all things crypto, subscribe to CryptoWendyO on YouTube and follow on TikTok and Twitter
China Keeps The Foot On The Gas For Political Pressure on Bitcoin
Following through on recent pressures on cryptocurrency, China declares that people should be staying away from Bitcoin and other crypto coins as they are ‘not legal tender and have no actual value.’
This may be the most amusing story all week, it is incredible to China going to such lengths to disown cryptocurrency for all the wrong reasons.
It is understandable that other governments have valid concerns with crypto, for example, how to bring fair regulation and taxes to this new and mysterious asset class.
China is seeking to increase its efforts regarding crypto trading websites and applications, the People’s Bank of China (PBoC) will be heading the charge in maintaining high pressure on crypto investments made in China.
In Other News:
Cuban Government Opens Avenues For Crypto Payments
Due to tighter restrictions made on the U.S. Dollar by Donald Trump during his presidency, The Cuban government is legalizing cryptocurrency payments.
Cuban Authorities and the National Central Bank have put together plans for rules and regulations to set up the framework to deal with the technically inclined population of Cuba.
Now adding to the portfolio of Central American countries that accept cryptocurrency, the other country on that list being El Salvador so far.
Hedge Funds Turn To Reddit For Crypto trends And News
When it comes to the stock exchange, New York and London Hedge funds understand what is going down, but when it comes to crypto it seems like they barely have a clue.
Goldman Sachs and Morgan Stanley are supposedly tracking the retail trading craze by hiring employees to run through Reddit, Discord and Twitter posts with the hope of catching new trends in crypto.
It is interesting that high level, professional Wall Street traders are coming to find out what the average crypto trader is talking about on the internet.
As crypto continues to gain more traction it is likely that there will be a shift in the culture, where the big guys have to listen to what the small guys are take interest in…
Wendy's Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything written or discussed in connection to cryptocurrencies– regardless of the subject matter's content– may represent a potential conflict of interest. I wish to remain transparent and impartial to the cryptocurrency community at all times, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.