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China continues to block crypto exchanges

Chinese financial regulators continue to fight the trade in crypto-currencies. Now the government plans to close access to more than a hundred foreign crypto-exchange exchanges that offer their services to residents of China.

According to the Shanghai Securities Times, the Chinese service for risk management in the field of financial technologies (CNFRRO) plans to close access to 124 crypto-exchange exchanges with foreign IP-addresses.

Recall that the People’s Bank of China in September 2017 introduced a ban on the initial placement of tokens (ICO) and closed a number of trading platforms. Over the next several months, many large exchanges were forced to cease operations in China and move abroad. At the moment, access to the largest trading platforms such as Binance, OKEx and Bitfinex has been blocked from Chinese IP-addresses.

Also representatives of CNFRRO warned that soon accounts will be blocked in the Chinese instant messenger WeChat, which provide services in the trade of crypto currency or ICO. In addition to all of the above, the agency negotiates with payment systems, which will have to study and block accounts that are suspected of conducting crypto-currency transactions.

As early as this Thursday, the Chinese authorities voiced a ban on placing advertising cryptocurrencies and related services in the financial district of Beijing. The ban applies to shopping centers, hotels, restaurants and office buildings.

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