The Central Bank of China again raises the topic of a complete ban on crypto-currency trading
The Chinese edition, which is under the control of the Central Bank, published another material, which says that the country’s authorities again raised the issue of the complete prohibition of trading by crypto-currencies. Given the negative news background around digital currencies, this news looks just crushing. And without that, the sagging market under its influence will drop even lower.
“China sees for itself too great risks associated with the incredible volatility of the crypto-currency market. Therefore, additional measures will be taken to eliminate the possibility of Chinese citizens to participate in crypto-currency transactions – in other words, we are going to close access to any domestic or foreign platforms for trading, “the article says.
According to the Chinese authorities, the recent measures taken to ban trading have not produced the desired results.
“The population ignored the official ban on participation in ICO and trading – the crypto-currencies have not left China. The fact that the local exchanges were closed did not change anything – it’s just that now everyone turns to foreign platforms, continuing to carry out trading, “the article says.
In other words, citizens easily found a way to circumvent the ban of the authorities, regardless of personal risks, to be caught in tricks of swindlers, such as fake ICOs, financial pyramids, or hacking exchanges.
It seems that the Chinese government intends to create another “Great Chinese Firewall”, which this time is aimed at all the crypto-industry.
It is worth noting that similar reports today came from the country’s leadership in mid-January. Then the attention of officials turned out to be riveted to mobile applications, through which you can go to the stock exchanges and trade in crypto-currencies. They intended to ban them in order to block citizens’ access to foreign trading platforms.
Recall that the other day it became known that Chinese social networks will no longer display advertising content, which is aimed at promoting cryptocurrency. Almost at the same time, as the same ban announced representatives of the social network Facebook.