Baidu Ban Makes Bitcoin’s Fate Unknown in Its Largest Market – CCN

Baidu Ban Makes Bitcoin’s Fate Unknown in Its Largest Market – CCN

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The anathema of all bitcoin and practical currency-related promotion from the online portals of China’s largest hunt engine, Baidu, has thrown a predestine of cryptocurrencies into a dicey state in a world’s largest marketplace for bitcoin trade and mining.

As China literally controls a bitcoin market, this move is expected to have a multiplier outcome on a whole ecosystem.

Though a reported reasons behind a sweeping cryptocurrency-related promotion anathema could still be pronounced to branch from speculation, there is a claim that Baidu’s movement was in line with new efforts by Chinese authorities to fight widespread financial crime.

Aside that a People’s Bank of China (PBOC) had suggested plans to launch a possess digital currency, it could be removed that a China Banking Regulatory Commission had warned financial companies not to use a word “bank” loosely in their names. China’s authorities had also affianced to clamp down on online rascal in March.

So when a comfortless death of Wei Zexi, a college tyro with cancer who sought diagnosis from a sanatorium found by an online advertisement, came to light, it was a formidable conditions for



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