They complained about some people taking advantage of crypto to perpetuate fraud and stuffs like that. While that might be true, it might not be enough reason for such a blanket ban of crypto.

This ban hurts legitimate crypt business owners. And that can be a good case in court.

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I think underneath that is the fact that crypto-based social media platforms are beginning to emerge as credible threats to mainstream social media platforms like Facebook, Twitter etc.

So the big guys are trying to protect their market share by shutting out the new guys attempting to burst into the scene through the #Blockchain technology.