China blocks access to 124 cryptocurrency exchanges


The Chinese authorities apparently intend to prohibit in the territory under their control any associated with the cryptocurrency activity. The government of China, in addition to the recent restrictions WeChat, adopted two additional measures namely banned 124 foreign cryptocurrency exchanges to work in China, and all commercial institutions in the capital district Chaoyang to hold any events dedicated to the cryptocurrency.

About the details of the ban of 124 exchanges, told the newspaper Shanghai Securities Times. Thus, the Agency called the Department of national risk-reduction in financial technology revealed 124 exchanges with foreign IP addresses that are still available to the local population.

The Department announced that it intends to tightly control this market segment and to block users access to foreign trading platforms.

In a statement the Agency said:

Some organizations or individuals used the blockchain and virtual currency as an instrument of criminal activity, such as the creation of financial pyramids and scams. Competent authorities will take further measures to ensure order in the financial sector and maintaining social stability.

124 of these website are located outside China, but the marketplace that provide Chinese citizens the possibility of transactions that are already “taken the necessary measures.” The next step will be the strengthening of monitoring and blocking in real-time.

The Department of risk reduction also intend to block existing and new sites ICO-projects and other resources that help in conducting tomenselo.

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