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New theory suggests China’s ban on Bitcoin was motivated by something else
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Businesses in China have been losing revenue since the country’s policy decision to ban Bitcoin and other related operations. According to the latest reports, Huobi Global, one of the largest exchanges in China, has lost around 30% of its revenue. Meanwhile, other platforms and miners have found new homes across the globe.
Meanwhile, the crackdown by China continues with Chinese journalist Colin Wu pointing out recent arrests concerning illegal cryptocurrencies worth $80 million.
Having said that, it was also made clear that China might not reconsider reversing the ban that was earlier being speculated.
However, Bitcoin entrepreneur John Carvalho has again left room for some speculation with his new theory. He believes that China has an
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