This is why China finally halted its bitcoin boom

https://www.wired.co.uk/article/china-ban-bitcoin-cryptocurrencies

"From Beijing’s point of view, to allow the coexistence of the Digital Chinese Yuan with any other virtual asset doesn’t make sense."

"China was interested in 'avoiding competition [from] cryptocurrencies'.”

#Bitcoin  #CBDC #DCEP #DigitalYuan #Yuan #CNY #RMB #DeFi #MiningBan #CCP #Beijing #China 🇨🇳