The People`s Bank of China announced about its intention to continue its strict policy to cryptocurrencies. There are serious reasons for that, the bankers claim. First of all, the ban is a part of well-developed strategy to protect and strengthen the national currency from negative influence and depreciation.
Second, the development of the national cryptocurrency is being planned. The target of the national currency is to improve the country`s economy and to protect it, while decentralized currency can bring destabilization in the country.
Third, the national currency will support the innovation trend in the country, as well, it will be controlled by the government.
For now though, China is very consistent in its war with cryptocurrency and all related matters. Even though the blockchain technology is valid for now, there are already some signs, that with time, it can have legal issues, as well.