Chinese authorities block sites 124 cryptocurrency exchanges

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Chinese national Department for the prevention of financial risks identified by the IP addresses of 124 foreign cryptocurrency exchanges that are available to the citizens of China. The websites of these companies will be blocked soon.

The division for the prevention of financial risks was established in 2016 to monitor cryptocurrency trading platforms and peer-to-peer lending. Since September of last year, the authorities imposed a ban on digital assets and initial offers of coins (ICO). As a result, China has blocked the sites of such major exchanges as Binance, OKEx, and Bitfinex.

During the analysis the state Department found 124 unblocked IP addresses of kryptomere and intends to restrict access to them in accordance with applicable law. In addition to commercial institutions, they were subjected to repression news channels in the social network WeChat, according to officials, will be deleted all accounts, offering to trade cryptocurrencies or participate in ICO.

Now representatives of the financial regulatory authority conduct negotiations with the payment systems to block accounts that are used to perform cryptocurrency transactions. China has a strict policy regarding digital assets, however, the government’s attitude towards the blockchain is diametrically opposite – the authorities recognize the enormous potential of this technology and encourage companies to develop decentralized applications for different business sectors.

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