Published
5 years ago on
September 18, 2018
“In August, CCN reported that an internet authority run by central bank officials is targeting up to 124 offshore cryptocurrency trading platforms serving China’s citizens by blocking their IP addresses. The central bank, in its notice today, said it will continue to monitor the offshore servers of these 124 platforms in a continuing clampdown against the sector that still finds ways to evade the blockade. In response, the PBoC said it will closely monitor ICOs and its multiple variants, strengthen research and judgement, proactively fight and prevent concerns.â€Furthermore, the PBoC notice states:
“In addition, it [the internet authority] has also strengthened the disposal of domestic ICO and virtual currency transaction related websites, public numbers, social media etc., and permanently blocked some public numbers suspected of releasing ICO and virtual currency trading hype information.â€What now? Nothing has really changed here specifically. No further bans have been added and the notice issued by PBoC is simply just that, a notice. PBoC are advising their customers against cryptocurrencies and ICOs, its propaganda but it’s exactly what the authorities want. They want to stop people investing and they want to cut out all public interest. Therefore, announcements of this nature from the central bank are paramount in ensuring China’s war against crypto can rage on.
