Date: 8 months ago   Category: Economy

The next strengthening of fight against cryptocurrency in China


In the business center of Beijing, the region of Chaoyan, any activity connected with cryptocurrency including conferences and advertizing of digital currencies is forbidden now.

In the business center of Beijing, the region of Chaoyan, is forbidden any activity connected with cryptocurrency including conferences and advertizing of digital currencies now.

last week the department of financial services in Beijing has issued the order on the ban of holding the actions devoted to cryptocurrency. The ban concerns all commercial organizations of the area Chaoyan, the business center of Beijing. According to the document, restaurants, hotels, shopping and business centers it is forbidden to advertize cryptocurrency or to hold the events connected with the cryptoindustry. At the same time, the commercial organizations have to not only to refuse everything that is connected with cryptocurrency, but also "to inform on the neighbor" if someone decides to disobey the ban.

Local regulators explain such tough ban with protection of financial safety of the population against volatility and manipulations of the market of digital currencies. The policy of the ban of cryptocurrency is directed to support and strengthening of Chinese yuan exchange rate, the only lawful national currency.

Yesterday, local mass media have reported one more attack of the Chinese regulators to cryptocommunity. The WeChat application messenger enjoying popularity in China, has undergone strict censorship. As a result of monitoring of the authorities several popular accounts devoted to cryptocurrencies and a blockchain have been revealed and blocked. According to censors the blocked accounts have violated the current version of requirements to information services accepted at the beginning of a month.

Such steps are quite logical in the light of the declared war to cryptocurrency at the end of 2017. The government publishes the forbidding directives, trying to stop use of the decentralized and unregulated digital currency in the country. Regulators of China have already forbidden primary offer of coins (ICO) and cryptocurrency transactions, have taken all measures for the termination of activity of local and foreign cryptocurrency platforms, has outlawed the mayningovy centers and have even forbidden rates on the FIFA World Cup in cryptocurrency. The government should publish monthly new regulating documents and to strengthen control over distribution of digital assets in the country.

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