China Continues Internet Crackdown on Cryptocurrency and ICOs

China Continues Internet Crackdown on Cryptocurrency and ICOs

Foreign cryptocurrency exchanges and various blockchain news accounts are in the fulcrum of the crackdown. Establishments in China’s Chaoyang District are also affected.

China has been active in the innovation of blockchain technologies. But the government fears the possibility of financial insecurity cryptocurrency trading will bring to the country, hence it is restricting the foreign market. Some cryptocurrency exchanges are currently not accessible in China. These are Binance, Bitfinex, and OKEx. Today, August 23, Chinese financial authorities have made the initiative to block 124 IP addresses of foreign exchanges.

Social media accounts in WeChat that focus on blockchain news and ICOs have already been permanently terminated early this week. According to WeChat, this is in compliance to preserve national interest and public order.

Hotels and other establishments were also warned against using their space for events that promote all things cryptocurrency related.

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