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

Crypto "most successful Ponzi scheme of all time"

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...