Blockchain Loses a Link: What the Chinese Crackdown Means for Cryptocurrencies and ICOs
For years, China has had a famously tight grasp on the value of its currency. In 1994, the Chinese government pegged the yuan to an $8.28 exchange with the US dollar and have since allowed this fixed exchange rate to appreciate by 2.1% each year. In doing this, China eliminates a variable when conducting its…