why totally ban on crypto assets, idea that moved the Chinese authorities the capital debates reports 2022

The People's Bank of China announced on the 24th that it will completely ban services related to cryptocurrencies (virtual currency).  Immediately after that, Bitcoin and Ethereum plunged by about 10% across the board, and the market was swaying.  What kind of impact is expected in the future?  We talked to Nana Otsuki, director of the Monex Cryptocurrency Research Institute.

why totally ban on crypto assets, idea that moved the Chinese authorities photo

How do you perceive this tightening of regulations?

 "It sounds like a fairly wide net, and investment activities in China may be uncertain. However, China has announced a policy to ban mining in May, and regulations on crypto assets. The biggest thing is the idea of ​​"joint wealth". The wealthy people are getting more and more money by investing, and they are working hard. If there is a difference with the people who work, it goes against this idea. Recently, the real estate industry has also made quite strict rules, and it can be said that it has already been factored in that domestic transactions and mining will not be free. "

In response to the announcement, Crypto assets have plummeted across the board.

"The measure of inflow from the RMB into Bitcoin, which is a delegate crypto resource, is little, and the effect is relied upon to be restricted. Also, under the new Corona, surplus funds due to large-scale monetary easing will also flow into the crypto asset market. Fortunately, we do not think that this will have a catastrophic impact on the market, as the number of large-scale transactions by institutional investors is increasing, especially in the United States. "

What are your concerns in the future?

"China isn't right now a worldwide drive in crypto resources, so market disturbance is restricted. Most notably, China's regulatory thinking has been accepted by other countries. For example, Europe is said to be good at taking global regulatory initiatives such as environmental issues. It will have a big impact if regulatory movements begin to appear in these countries and regions. Chishun Inagaki) 

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