Prominent businessman and realist writer Robert Kiyosaki has suggested a real reason for China’s new crypto ban
- New Chinese ban on cryptocurrency market
- China has announced a new ban on cryptocurrency. what does that mean?”
Famous real estate investor and author of the bestselling book on financial culture “Rich Dad, Poor Dad” Robert Kiyosaki I moved to Twitter To suggest the actual reason why China announced yet another ban on Bitcoin and all other cryptocurrencies.
The ban comes after China began cracking down on crypto miners earlier this year.
New Chinese ban on cryptocurrency market
Apart from investing in real estate, Robert Kiyosaki also prefers to hedge against inflation by betting on gold, silver and bitcoin. Last year, he predicted the coming crash of the US dollar and shared his thoughts on the future benefits of bitcoin, gold and silver with his army of followers on Twitter.
Now, he commented on the new documents published by the Central Bank of China (PBOC). These documents announcing operations with all illegal cryptocurrencies were released at the beginning of September but only announced on Thursday.
The announcement of the PBOC sent the entire crypto market into the red, forcing Bitcoin to drop to $41,000 and bring Ethereum below $3,000.
It was the second big blow to the cryptocurrency market this week – the first also came from China, when the second largest housing developer China Evergrande Group defaulted on its 2 trillion yuan debt to shareholders and saw its price tag. Stocks go down.
China has announced a new ban on cryptocurrency. what does that mean?”
Kiyosaki believes that by declaring crypto transactions (and thus, all crypto-related companies) illegal in the country, the Chinese government along with the People’s Bank of China (PBOC) is paving the way for launching their own CBDC known as DCEP (Digital Currency Electronic Payment) or Digital Yuan .
The US Federal Reserve has also shown interest in CBDC recently and has begun to consider this opportunity. If the Federal Reserve releases the US dollar (the “federal currency”), the US government will be completely centralized, as in China.
This morning China announced a new crackdown on Crypto. what does that mean? This means that China is about to launch its own government cryptocurrency. If you follow the United States, the Federal Reserve currency means that bitcoin is banned, the United States becomes a central government, like China, American communism begins, and our freedoms end. takes care.
– Therealkiyosaki (@theRealKiyosaki) September 24, 2021
Previously, some on crypto Twitter assumed that China would use CBDCs to tighten control over Chinese people’s bank accounts and get full data on their income, spending, etc.