The proportion of the yuan in the total trading volume of Bitcoin has fallen to 1 percent. Why did this happen?

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2018-07-11 20:45:05

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The proportion of the yuan in the total trading volume of Bitcoin has fallen to 1 percent. Why did this happen?

Last year, Chinese companies, a record number of patents for products created on the basis of the blockchain. Of the 406 applications filed in the world intellectual property organization, 225 had at the company from the country of the rising sun.

In the case of bitcoin, the situation is the opposite. The people's Bank of China announced that the share of the yuan in global trade the Bitcoin fell to 1 percent. About it writes .

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The Cause of the fall in the share of national currency in the trading volume of Bitcoin was the rigid position of the government in relation to digital money. In September last year, the authorities banned the ICO, then shut down the local exchange and actually banned the operations with cryptocurrency.

The Publication notes that the fall in the share of the yuan in trades is the first cryptocurrency — peak, which not even dreamed of Bitcoin. Before China banned transactions with digital money, the share of the yuan in trade Bitcoin reached 90 percent.

Now the leader in the share of national currency in the trade of Bitcoin is Japan, followed by South Korea and Malta. The governments of these countries to hold more progressive views in regards to cryptocurrency, the newspaper notes.

the proportion of the yuan in the total trading volume of Bitcoin has fallen to 1 percent. Why did this happen? appeared first on Two Bitcoin.

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