This is not the first time China banned the crypto trade in the country. It declared cryptocurrency illegal in the years 2013 and 2017. Following these frequent ban declarations, we can predict the future of decentralized digital currencies in this country.

China was a multiple crypto trade platform in the past. Previous ban declarations did not affect Bitcoin much, but still, its price went down. Now it has made crypto news completely illegal. It cleared that no government or any other authority would be responsible in case of any arrest or loss.

Moreover, China is launching its digital currency, which can be used for payments and trade online. Still, this ban disappointed all the traders residing in the country.