Cryptocurrency sites are being blocked inside China! :


The virtual currency is currently experiencing a further decline in China. Indeed, all cryptocurrency websites are systematically blocked not only inside China but also abroad.

Specifically, the fall of bitcoin or virtual currency accelerates following the announcement of a new round of screws on cryptocurrency exchange websites in China. The finding, a bitcoin was trading at this month of February 2018 against less than 5000 euros if he had spent well 16 000 euros last December. According to an article published in the Journal "Financial News" on February 4, 2018, to prevent financial risks, China will adopt draconian measures to remove any website favorable to ICO or Initial Coin Offering or virtual currency exchanges. In a word, this measure is to block all cryptocurrency trading platforms, just like China does Google and other foreign websites. The latter who can not carry out their activities throughout the country.

A safe haven during the year 2016
Confirmed Monday, February 5, 2018, China will adopt more stringent measures to limit the exchange on these cryptocurrency platforms and the associated risks, while eradicating the processes of scams that currently claim many victims. Indeed, before 2016, China was a potential ground for international bitcoin companies. These platforms were also encouraged by the authorities during these times. That said, following the fall of the Chinese currency, bitcoin quickly became a safe haven in which 98% of bitcoin trade went into yuan. In this case, faced with the momentum of exchange prices, the Chinese authorities decide to backtrack thinking that bitcoin will necessarily endanger the economies of the Chinese people. To that end, they are now tackling all mining or bitcoin trading activities. To do this, the local authorities start by increasing the cost of electricity or the tax allocated by the farms of the mining. On this, several specialized companies are currently seeking to move by opting for more hospitable countries like Canada, Siberia, etc. In short, the threat of cryptocurrency is very real for Beijing because according to the explanations of Zennon Kapron, whenever there is a conflict with a company, private investors will directly appear before the local government instead of asking their money in front of the company in question.
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