The global Luna crisis has further made it easier for the Beijing government to strengthen the crypto ban introduced last year.
The Luna crisis shows the risky crypto playground
According to the South China Morning Post, China is using the collapse of Luna and the collapse of the UST to strengthen the ban on cryptocurrency trading passed by the government in 2021. Information about the Luna Crisis with global implications. Demand in the newspapers was high after UST fell to zero on May 12 and halted trading.
At its peak, the UST was worth about 15 US cents, but after the crisis, Luna’s value almost collapsed and its value fell to less than 1 US cent. The deep crisis in crypto trading has given the Beijing government a new reason to warn the public about the dangers of crypto assets after banning trading for almost a year over concerns about cryptocurrency stability. finance.
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Source: INN NEW YORK CITY