China is determined to ban cross-currency trading by blocking all websites related to the initial currency offerings (ICO) and trading of crypto valves, including all foreign websites.
Financial News, published a paper describing government plans to stop trading in crypto valves in the country.
The Chinese government had already tried to stop the trading of crypto valves by banning ICOs and shutting down internal exchanges. But these measures did not stop traders entering the foreign trading market via the internet. The latest move will use China's terrific firewall to stop access to these sites.
"ICOs and crosscut trade were not entirely withdrawn from China after the official ban ... after the closure of foreign online exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions. To prevent financial risks, China will step up measures to remove any platform that is related to online currency trading or ICOs, "the article explains.
The setup comes in a bad time for cryptovalutat and Bitcoin, especially that it is experiencing a huge loss in value. Concern for the upcoming adjustments has shaken the world of crypto valves in the last month, causing a massive fall in the overall market value.
