In the last couple of months, many advancements were made regarding cryptocurrency legislation and regulation. Many countries like Canada, China, United States and South Korea issued bans on ICO crowdfunding. Not only that but the Popular Bank of China also decided to ban cryptocurrency exchanges, shutting down the biggest cryptocurrency market in the world.
Although the price of Bitcoin has since bounced back, breaking all-time highs recently, the ban of China’s cryptocurrency exchanges had drastic effects on the prices of the whole crypto market.
Chinese authorities declared Initial Coin Offerings to be illegal and companies were required to halt of fundraising activities ‘immediately’.
In the last couple of months, many advancements were made regarding cryptocurrency legislation and regulation. Many countries like Canada, China, United States and South Korea issued bans on ICO crowdfunding. Not only that but the Popular Bank of China also decided to ban cryptocurrency exchanges, shutting down the biggest cryptocurrency market in the world.
Although the price of Bitcoin has since bounced back, breaking all-time highs recently, the ban of China’s cryptocurrency exchanges had drastic effects on the prices of the whole crypto market.
Chinese authorities declared Initial Coin Offerings to be illegal and companies were required to halt of fundraising activities ‘immediately’.