The highly volatile & speculative nature of the Crypto market, which puts the country’s economic position at stake to an extent, a factor that makes the Chinese authorities uncomfortable, a country that cannot stand anything outside its control.
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I see the China ban on mining as a welcome one. Will decentralize the mining network even further. Previously there was always the risk of the 51% takeover control, which has been diminished with this
Know more about the bitcoin crash in the medium article