چینی پریس کا کہنا ہے کہ ریگولیٹرز بٹ کوائن کو منسوخ کرنا چاہتے ہیں ، لیکن یہ ممکن نہیں ہے

Award-winning journalist Colin Wu is crypto-Twitter’s bridge to the Chinese press. He extracted and translated the main points of an article from CaiXin magazine, “which is most recognized by Chinese financial officials.” Apparently, they “interviewed people close to the People’s Bank of China and other government agencies” and got their perspective on this year’s iteration of China’s crypto ban. 

The regulator’s views seem extremely outdated and out of bounds. So much so, that it seems suspicious. A smokescreen. The kinds of thing politicians tell the press to get them off the trail. Nevertheless, this is what the People’s Bank of China and other government agencies said about cryptocurrencies and mining:

1. Chinese listed companies do not do their own business, they buy mining machines and build mines.

2. Inner Mongolia’s energy consumption reduction is not up to Beijing’s standard, so it is the most active to crack down mining.

3. Mining is of no use to the real economy, and even seizes the production capacity of other chips

4. Beijing believes that crypto is completely bubble, and even the risk is transferred to elderly people with less investment experience

5. 5. ریگولیٹرز کان کنی اور بٹ کوائن کو مکمل طور پر منسوخ کرنا چاہتے ہیں ، لیکن یہ ممکن نہیں ہے

We barely understand the first one too, don’t worry. Also, if you don’t believe Wu, here’s اصل مضمون آپ کو چیک کرنے کے لئے.

متعلقہ مطالعہ | چین کی کان کنی پر پابندی کرپٹو کے زمین کی تزئین کو تبدیل کر رہی ہے

What does the ban consist of this time?

ہمیشہ کی طرح، Bitcoinist was on the case as soon as they announced it:

In China, the miners are running for their livelihood. The country pledged carbon neutrality by 2060, and they seem to think Bitcoin mining is in its way. The risks inherent to leveraged trading are also under review. This is the first time a high-ranking member of the Chinese government expresses a determination to act. رائٹرز رپورٹیں:

نائب وزیر اعظم لیو ہی کی سربراہی میں ریاستی کونسل کی ایک کمیٹی نے جمعے کو دیر گئے کریک ڈاؤن کا اعلان مالی خطرات کو روکنے کی کوششوں کے حصے کے طور پر کیا۔

اور اس کے بعد، Bitcoinist نے کیس کا تجزیہ کیا۔ from several perspectives:

چین کے فیصلے سے واقف تقریباً ہر شخص اس بات سے اتفاق کرتا ہے کہ بٹ کوائن اپنے ہیشریٹ کی دوبارہ تقسیم سے فائدہ اٹھائے گا۔ پرائمیٹو کرپٹو کے بانی ڈووی وان نے کہا کہ ایشیائی دیو دو چیزوں کو روکنے کی کوشش کر رہا ہے: "سماجی استحکام" کو برقرار رکھنے کے لیے سرمائے کا اخراج اور قیاس آرائی پر مبنی رویہ۔ وان شامل کیا:

بٹ کوائن کان کنی پر پابندی "مالی اور اقتصادی استحکام کو برقرار رکھنے" (...) کے اقدامات کے سلسلے میں ایک ضمنی نقصان ہے۔ لیکن عالمی ہیشریٹ کی دوبارہ تقسیم کے لیے غیر منطقی طور پر اچھا ہے۔

Coinbase پر ETH قیمت چارٹ | ماخذ: ETH/USD آن TradingView.com

Is the Chinese government playing dumb?

The reasons given in CaiXin’s report are surprising, to say the least. Do they really believe that “Mining is of no use to the real economy” while making millions of dollars every day? Could the government really believe that crypto is a bubble and at the same time consider Ethereum as the platform for its CBDC?

متعلقہ مطالعہ | ہووبی ہالٹس فیوچر ٹریڈنگ سروسز ، ریگولیٹری پریشر ماؤنٹ کے طور پر چین میں کان کنی کا پول

ہماری بہن سائٹ ، NewsBTC, reported on the subject. Yao Qian, a member of The China Securities Regulatory Commission, “spoke on The International Financial Forum (IFF) 2021 in Beijing on May 30th,” and said:

We can imagine that if the digital dollar and the digital yen were running directly in blockchain networks such as Ethereum and Diem, central banks could use their BaaS services to provide central bank digital currencies directly to users without the need for intermediaries. 

See, that’s what a modern government with its feet on the ground sounds like. Are you telling us that “Regulators want to completely cancel mining and Bitcoin”? That doesn’t sound like something an educated government official would say.

Or maybe, and hear us out, this is an attack on Bitcoin specifically?

متصف تصاویر نونو البرٹو on Unsplash سے - چارٹس بذریعہ TradingView

Source: https://bitcoinist.com/the-chinese-press-says-regulators-want-to-cancel-bitcoin-but-its-not-feasible/?utm_source=rss&utm_medium=rss&utm_campaign=the-chinese-press-says-regulators-want-to-cancel-bitcoin-but-its-not-feasible