No, China didn’t ban crypto again
As C.H. Spurgeon famously said, “a lie will go round the world while truth is pulling its boots on.” Early Sunday morning, Beijing time, that very thing happened. Wild rumors, apparently starting on Telegram and filtered through Elon Musk’s X, began to surface that China had implemented yet another ban on crypto and Bitcoin. Eventually, these rumors made it to major accounts with millions of followers, including FirstSquawk, PolyMarket, Kalshi, and Unusual Whales, who all reported it without any sourcing. The problem? It’s fake news. This “breaking news” isn’t new to anyone who’s been involved in crypto since 2016 — 2021 because almost every single year someone suggests that China has, yet again, banned it. There have actually been specific bans implemented on cryptocurrencies in China: in 2021 the National Development and Reform Commission pushed for crypto mining activities to cease, though older mining farms were allowed to continue to conduct business for a pe...