China orders Bitcoin exchanges in capital city to close
Right now, I like anything that helps normalize the white-hot hype of cryptocurrencies. There&#x27;s some real utility in this technology, and we won&#x27;t get to see it until companies are forced to make sustainable business cases and serve real customers.<p>However,<p>&gt; A website set up by the Chinese central bank warned that cryptocurrencies are &quot;increasingly used as a tool in criminal activities such as money laundering, drug trafficking, smuggling, and illegal fundraising&quot;.<p>That sounds a bit like lip service...are they really just protecting investors and citizens, or is it because the assets are much harder to seize? Recently, there has been a large crackdown on foreign real estate purchases[0].<p>What other incentives does the party have for this policy?<p>[0] <a href="https:&#x2F;&#x2F;www.forbes.com&#x2F;sites&#x2F;ellensheng&#x2F;2017&#x2F;07&#x2F;31&#x2F;chinese-overseas-real-estate-buying-spree-slows-delayed-by-tightened-capital-controls&#x2F;#1dd5a37514f7" rel="nofollow">https:&#x2F;&#x2F;www.forbes.com&#x2F;sites&#x2F;ellensheng&#x2F;2017&#x2F;07&#x2F;31&#x2F;chinese-o...</a>