China’s moves against cryptocurrencies could affect blockchain growth
While the hype around bitcoin and other cryptocurrencies has sent their prices skyrocketing, some governments and companies are restricting activity to head off potential money laundering and protect consumers from a credit meltdown.
Cryptocurrencies have begun to exit once-friendly China for more open nations and other regions and businesses are beginning to impose restrictions on how – or even whether – they can be used.
Open blockchains, such as bitcoin, are only the first to be affected by increased regulatory oversight. Depending on how they're used, permissioned blockchains, or those that are centrally administered and used for general transactions, could also be affected by the push to reign in the cryptocurrency technology.