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Has China blocked access to crypto-Exchange sites?

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as various local and international media reports, China’s Central Bank is planning to block access to websites of trading platforms, the Kryptowährungen offer. This measure would go further than anything practiced in China so far and could cut off many Chinese from crypto trade.

According to a report which post to South China morning, China’s Central Bank PBoC are seeking to block access to all websites on which Kryptowährungen offered for sale. As advertisements that are related to crypto trade, should be deleted primarily initial coin offerings, from search engines and social media. The people’s Republic is known to operate a massive Internet censorship and to keep out unwanted pages. Among other things, the Google search engine and social network Facebook are blocked in China.

If now the access to the websites of crypto exchanges should be denied of the Chinese population, this would drive crypto trade, as well as the acquisition of Kryptowährungen in the illegality. Once in China operating exchanges already were closed in the last year or relocated, this step would be also out for legitimate trade with Kryptowährungen on foreign crypto exchanges.

The South China Morning Post quoted a party close source that indicates the blocking of foreign exchanges will “financial risks prevented by”. In addition, the article reveals that the previous steps to close Chinese exchanges, have not sufficient to bring crypto trade in China completely to a halt. The next level of escalation will therefore now necessary.

Should these measures are actually consistently thought to end, this means the end of private crypto-trade for many millions of Chinese. Had turned to population and exchanges after September last year to continue their business still abroad, so now the last leg of the Chinese crypto-economy by the Government threatens to be kicked off. The Chinese exchanges had last year in the Special Administrative Region Hong Kong moved from also South Korean, and before benefited from the China ban on all Japanese crypto exchanges .

Also the today’s renewed currency crash, which collectively red colored the portfolio – the color of the people’s Republic of China is shown in this light. It remains to be seen to what extent the crypto market will continue to depend the Chinese segment, the ban should be extended in fact completely.


about Tobias Schmidt

 Tobias Schmidt is Tobias Schmidt since August 2017 as editor in the BTC ECHO working team. His studies in the subject of politics and Economics at the University of Münster signed with a Bachelor’s degree and was also active during his studies at the Department as a student assistant. In addition, he gained professional experience in parliamentary work and in strategic communication, before joining in the journalistic trade. Since 2017 he deals with the Blockchain technology, whereby it focuses in particular on the many different application possibilities in politics, economy and society.

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