The Chinese Ban
Total supply: 200Chinese regulators have banned financial institutions from using Bitcoin, warning that the virtual currency could be used for illegal activities and speculation. This was done “in order to avoid harm to the public and to the legal monetary status of the renminbi [a.k.a. the yuan]” that might occur as a result of “excessive speculation” in bitcoin and other virtual goods" Beijing stopped short of outlawing Bitcoin altogether and said individuals were free to buy and sell it at their own risk, but it highlighted what it said were dangers associated with it, including money laundering and criminality.
January 16, 2022