Why can the Chinese ban fool Bitcoin and other digital coins?

The Central Bank of China (PboC) has issued a ban on its first ICO and stepped up its investigation and sanctions on ICO trade in China. Immediately, a statement by the Chinese authorities made Bitcoin and a series of other coins sloppy. Analysts say China's ban will leave far-reaching and far-reaching implications for what people think of it.
PboC's ban on digital money mobilization has been a major obstacle even in the ICO alone in 2017, which brought in $ 1.5 billion to companies. However, not to stop there, the words in PboC edict also show that the business and use of these currencies, including Bitcoin, may violate Chinese law. The backdrop of the world's second-largest economy can be a powerful blow to the world of numbers, which is getting a lot of expectations.
In addition, PboC also stressed the floor is strictly prohibited to convert the money into legal money. Tokens can not be used as a currency, and banks are also prohibited from providing ICO services. Even providing information, pricing or intermediary services is prohibited. Adam Efrima, CEO of eToro Trading Platform in China, described PboC's decision as "huge" and stated "it's bigger than anyone thinks." According to Efrima, the Chinese government does not want to ban blockchain development but only wants to reduce fraud. "
"Dial-related trading and sales are officially banned. If you interpret the law literally, you are not allowed to participate in any pre-coded exchange activities, whether exchanging money or exchanging money into cash, "Efrima said.
However, Wong Joon Ian, Quart's reporter for digital money, said that most of the Chinese exchanges sent a message to WeChat customers to announce the bitcoin deal continues despite the announcement. of PboC.
Meanwhile, Charles Hayter, Founder and CEO of CryptoCompare, said that the new regulations of PboC has many points are not clear so need to wait for guidance of the authorities. Nevertheless, the fearing psychology is overwhelming the Chinese market and has a strong impact on the world of numbers, including the sharp decline in the most valuable currencies, including Bitcoin.
( Business Insider)