Crypto clampdown: China ban will not hamper 'biggest political idea for 150 years'

Crypto "most successful Ponzi scheme of all time"

Lauren Mason
clock • 6 min read

China’s recent ban of all cryptocurrency will not hamper the prospects for what has been described as the “biggest political idea for 150 years” by some asset allocators, who have likened the current stage in crypto adoption to “the internet in 1997”.

China's recent ban of all cryptocurrency will not hamper the prospects for what has been described as the "biggest political idea for 150 years" by some asset allocators, who have likened the current stage in crypto adoption to "the internet in 1997". Others are more sceptical though, with some warning the ban will be "disastrous for crypto" and that it serves to highlight what they described as "the most successful Ponzi scheme of all time". On 24 September, the People's Bank of China announced all cryptocurrency transactions would become illegal, warning that it "seriously endangers...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Cash in Conversation: A poll for financial advisers

Cash in Conversation: A poll for financial advisers

Professional Adviser
clock 29 October 2024 • 1 min read
The challenges and opportunities for active managers

The challenges and opportunities for active managers

'We believe good active managers always have a place in a portfolio'

Darius McDermott
clock 29 October 2024 • 5 min read
What have the UK's smaller companies ever done for us?

What have the UK's smaller companies ever done for us?

'Those that know where to look can unearth highly attractive opportunities'

Professional Adviser
clock 21 October 2024 • 4 min read