On the same day that China banned bitcoin, other countries around the world also banned the virtual currency.
The U.K., Switzerland, and New Zealand all banned bitcoin last week.
“There’s been a lot of confusion and misinformation out there about what bitcoin is,” John Garvey, a senior fellow at the International Centre for Political Economy at the London School of Economics, told CNNMoney.
“The reality is it is still a very nascent market.
It’s only been around for a few years.”
Read MoreBitcoin is an unregulated digital currency that has gained popularity over the past year as its use has surged in recent years.
Bitcoin is a digital currency.
It is issued by a peer-to-peer network that allows anyone to send and receive bitcoins.
Unlike traditional currencies, which are backed by a central bank, bitcoins are not backed by any government.
However, the digital currency is also a form of currency that can be used to pay for goods and services.
“Bitcoin is not backed, by any means, by the central bank in the United States,” Garvey said.
“It’s backed by the miners, the software developers, the manufacturers, and the users.
And that is a much better currency.”
Bitcoin has become a major driver of global economic activity, accounting for about 40% of global remittances in 2016.
It was the No. 1 global remittance source of 2016, according to Global Payments Research, which found that U.S. residents send more than $10.5 billion per day to other countries, while people in China, India, and South Korea are the top three users of the virtual money.
In 2015, the U.N. Development Programme (UNDP) estimated that China accounted for nearly half of the world’s digital currency transactions.
Garvey told CNN that while the U., the U, and U.Y. countries have taken different approaches to bitcoin regulation, they all have in common: a lack of regulatory clarity around the use of the digital money.
Bitcoin has been banned in all 28 countries where it has been used, and has been outlawed in all but three of the U (the U.A.E., the Philippines, and Turkey).
The U.C. of A recently banned bitcoin trading platform in its campus.
Bitcoin trading platforms are illegal in all 27 countries where bitcoin is used.