Hi,
Falling crypto prices have been blamed for a growing number of crypto-related legal Cases in China,
Because of unclear regulations and unofficial restrictions its harder for courts to resolve these cases,
Its became challenge for Chinese courts to resolve hundreds of crypto related cases whose number has been increased significantly with the drop in bitcoin price in recent days,
According to data released by Chinese judiciary
In the first week of August there were more than 250 pending cases related to cryptocurrency.
Its Becoming hard for Chinese courts to rule in such cases as many of them involve cryptocurrency trading,
Judges are unable to clearly determine how legal these cryptocurrency activities really are,
A year ago Chinese regulators prohibited initial coin offerings (ICOs), they also ordered local crypto exchanges to suspend all trading operations,
Because of that ban many exchanges like huobi, Okcoin, Binance stopped their trading in china and shifted to more favorable country,
However the trading ban in china particular was not mentioned in any official statements.
The ban on crypto exchanges was imposed without any official statement.
What you think who is responsible for bitcoin fall,these news or whales,
Im sure whales are doing these all things,
Please mention ur views in comment box.
Please Upvote.
