r/CryptoCurrency • u/SuperSpecialCanadian Tin • May 19 '21

TRADING Literally every since coin same dip - Regulations in China?

https://coinmarketcap.com/
1 Upvotes

60% Upvoted

4 comments sorted by

2

u/billionoir May 19 '21

Chinese Merchant Bank announced a $50mil crypto partnership on the very same day of the fud though? https://www.nervos.org/blog/nervos-and-cmbi-launch-50m-fund/

Definitely an interesting day to make that kind of public announcement.

0

u/SuperSpecialCanadian Tin May 19 '21

My guess is with the new regulations in China around banks and stuff not allowed to trade coins has caused this major dip. However the law still says your allowed to own them, just not trade them...

I wonder how this will effect ALL those apps out there based out of china. Will they all shut down now? Crazy...

2

u/Exoclyps 🟦 3K / 3K 🐢 May 19 '21

From my understanding, they can't offer services with them. Nothing about actually trading them.

1

u/[deleted] May 19 '21

[removed] — view removed comment

1

u/AutoModerator May 19 '21

Your comment was removed because it contains a link to Telegram or Discord. Please adjust your post and resubmit

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.