Chinese regulators have once again tightened stance against the cryptocurrency market: now the authorities intend to block more than 100 foreign kryptomere that were available to Chinese investors.
As reported by Shanghai Securities Times, covering the official decision of the financial authorities of China, the National authority for the elimination of FINTECH-the risks of China discovered 124 trading platform with foreign IP addresses through which Chinese citizens could still trade with virtual currencies.
In this regard, management will take appropriate measures, including blocking Internet access to these trading platforms and more monitoring of the space. According to Coindesk, trading a top-class shopping venues such as Binance, OKEx and Bitfinex in China is impossible.
In addition, the Agency finally block domestic websites and official accounts of WeChat messenger, upon detection of any evidence of a trade in digital currency and promote the ICO.
Is working with third-party providers of payments that need to be carefully checked and block the accounts if you suspect the presence of crypto-currency transactions.
We will note, in February in mass media there was information that the authorities of China will block the accounts of Chinese investors on foreign exchanges and to block access to foreign websites that sell cryptocurrency.
Also, two days ago, several Chinese cryptocurrency media said about blocking their accounts on WeChat. According to the newspaper Caixin, Tencent — the company-developer of messenger, have confirmed this information, having declared that the decision on blocking was provoked by the presence of evidence that the services carry out operations on the trading of cryptocurrencies and ICO. According to Caixin, some of the information portals have been instructed to cease their activities.
The powers of the National office for the elimination of FINTECH-the risks of China, which began operation in 2016, is to protect against financial risks arising in the field of cryptocurrency trading and P2P lending.
Recall that in September last year, the people’s Bank of China announced a ban on IPO coins (ICO) and cryptocurrency trading in tandem with the yuan. In this regard, a major Chinese exchanges have migrated abroad, while the authorities continued to reinforce measures to prevent any activity in this space, including control of the companies operating in the OTC model, foreign and ICO. The exception is the blockchain, the development of which, on the contrary, encouraged by the authorities. So, at the end of July in the Chinese Nanjing has created a $1.5-billion Fund to support domestic blockchain projects.