How to Kill a Cryptocurrency
Today the People's Bank of China banned crypto transactions. The US and EU will likely follow.
China's central bank just announced that they are making all crypto-currency transactions illegal.
This was inevitable. I'm just surprised it took them so long.
For years governments and central banks have been wrestling with what to do with cryptocurrencies.
Their solution is now clear: co-opt aspects of the technology to make their own Central Bank Digit…