Confidence in cryptocurrencies in China is falling after raids
Follow a call opinion poll Confidence in cryptocurrencies, announced by data intelligence company Morning Consult on September 16, has dropped 16% in just one month in China.
Only 29% of adults said they trusted “a lot” or “little” in crypto in August (compared with 45% in July).
The Chinese feel depressed about cryptocurrencies as almost all bitcoin mining is banned across the country.
The crackdown isn’t over yet, however, as Hebei Province announced earlier this week that it will be tracking bitcoin miners.
In addition to the mining drama, China has also stepped up its anti-crypto campaign in the banking sector.
By comparison, trust in cryptocurrencies in the United States is down only 2%, which is insignificant.
India leads the way in supporting cryptocurrencies
Of the 15 countries included in Morning Consult’s survey, India leads with 86% of respondents who said they trust cryptocurrencies. The high percentage clearly shows that there is a discrepancy between the government’s cryptocurrency policy and public opinion.
Brazil follows in second place with 69%, followed by Mexico with 65%. As Bitcoin Magazine reports, almost half of Brazilians want to make Bitcoin legal tender.
Russia (54%) and Spain (45%) are fourth and fifth, respectively.
Japan and South Korea are at the bottom of the list, with 48% of respondents saying they are completely suspicious of cryptocurrencies.
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According to U.Today