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Chinese authorities are tightening the screws of kriptonyte

Китайские власти закручивают гайки криптоиндустрии

The last couple of days in China was marked by harsh measures against cryptocurrency. The situation in the country and so not contributed to the development of decentralized payments, and now foreign exchange and cryptomeria nothing left but to leave.

Bans and censorship

The position of the Chinese government for a long time was very uncertain: was the active support blockchain technologies (even created a national cryptocurrency and allocated three billion dollars for the development of the sphere), it was forbidden ICO and mining. But the last steps can have a profound impact on the world economy.

Китайские власти закручивают гайки криптоиндустрии

The ban on events related to cryptocurrency

The government in Beijing issued a new decree: offices, hotels and shopping centers is strictly prohibited to organize cryptocurrency meetings and conferences. Saying it’s because of a few past events organized by the country banned the exchanges.

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Lock cryptocurrency news portal on WeChat

WeChat — the messenger of the Asian world as well, where you can subscribe to the newsletter and even send money via internal wallet. He’s ahead of the competition with progressive ideas and attracts Chinese people unique functions. The number of accounts and at least eight editions forever to get a lock due to lighting Cryptocoryne. Including were blocked by the company Jinse Caijing and Huobi, the most popular sources of information about blockchain technology.

Китайские власти закручивают гайки криптоиндустрии

Restricting Internet access

Chinese regulators are going to prohibit 124 foreign exchange. In September last year in China was a ban on the provision of crypto-currency services. A local exchange moved abroad. Now it was found 124 platform operating in China, but from foreign IP addresses. Regulators plan to deny them access to the Internet, as is already done with Bitfinex, OKEx and Binance.

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Similarly, it is unclear why the Chinese government has begun a sharp anticryptogamic campaign. Some experts link the bans from the depreciation of the yuan, so the regulators welcome the digital economy, but see a threat in a decentralized. And maybe the fact that this area is very difficult to control even in a totalitarian state.

In any case, similar restrictions the government can keep interest of the local population and cause widespread discontent. A complete ban cryptocurrency activities in China will lead to the emigration of large media portals and blockchain platforms, and thus to the loss of jobs and tax revenues.


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