Ban Complete: China Blocks Foreign Crypto Exchanges To Counter ‘Financial Risks’
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Regulators in China reportedly voiced dissatisfaction with current measures restricting trading on domestic exchange sites, coming to a decision to block foreign sites as well to counter “financial risks”.
In January, a fresh crackdown from Beijing saw fringe trading platforms such as P2P and over-the-counter resources banned, adding to a blanket embargo on crypto-to-fiat trading and ICOs in place since September 2017.
At the same time, mixed signals have been given over the status of cryptocurrency mining, while Monday’s website block comes after Cointelegraph reported that ads relating to cryptocurrency had all but disappeared from domestic sites in China.
Now lawmakers say they wish to counter contingency moves from traders who sought to circumvent the trading ban by using foreign platforms.
“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” the South China Morning Post quotes the PBoC-related publication as saying. The quote continues:
“ICOs and virtual currency trading did not completely withdraw from China following the official ban… Overseas transactions and regulatory evasion have resumed… [R]isks are still there, fuelled by illegal issuance, and even fraud and pyramid selling.”
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Regulators in China reportedly voiced dissatisfaction with current measures restricting trading on domestic exchange sites, coming to a decision to block foreign sites as well to counter “financial risks”.
In January, a fresh crackdown from Beijing saw fringe trading platforms such as P2P and over-the-counter resources banned, adding to a blanket embargo on crypto-to-fiat trading and ICOs in place since September 2017.
At the same time, mixed signals have been given over the status of cryptocurrency mining, while Monday’s website block comes after Cointelegraph reported that ads relating to cryptocurrency had all but disappeared from domestic sites in China.
Now lawmakers say they wish to counter contingency moves from traders who sought to circumvent the trading ban by using foreign platforms.
“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” the South China Morning Post quotes the PBoC-related publication as saying. The quote continues:
“ICOs and virtual currency trading did not completely withdraw from China following the official ban… Overseas transactions and regulatory evasion have resumed… [R]isks are still there, fuelled by illegal issuance, and even fraud and pyramid selling.”
STAY STRONG - This is all temporary. Every crash gives us assurance that NEXT BIG Move is coming soon.
Relax 😊
Relax 😊
We may see BTC bounch back from this point - $6200
Let see! If it drops below $6,000 - It can go down to $5500
Let see! If it drops below $6,000 - It can go down to $5500
Pareto - ICO price : $0.06
Current price: $0.03
The Pareto Network is the first peer to peer financial content marketplace. It connects providers of financial information in the cryptocurrency space with investors, providing foresight into market inefficiencies and opportunities. Content creators can earn money by sharing financial information that benefits people in the network. When investors compensate content creators, their ranking goes up which gives them faster access to more actionable information in the future.
Available on IDEX, Etherdelta
LONG TERM
Current price: $0.03
The Pareto Network is the first peer to peer financial content marketplace. It connects providers of financial information in the cryptocurrency space with investors, providing foresight into market inefficiencies and opportunities. Content creators can earn money by sharing financial information that benefits people in the network. When investors compensate content creators, their ranking goes up which gives them faster access to more actionable information in the future.
Available on IDEX, Etherdelta
LONG TERM
QLC - came out of ICO about a month ago
ICO Price: $0.10
Current price: $0.11
Total Supply: 600,000,000 ONLY
Many missed this ICO -
A decentralized global Wi-Fi sharing network. Users can share their spare or idle WiFi and be rewarded with Qlink Token. A decentralized billing system to re-package mobile data and excessive data selling to whoever wants to buy. Especially useful for content distribution on mobile network. A decentralized Enterprises Telecom Service, sucn as SMS / voice / data services on Qlink. Build decentralized telecom infrastructure. Users can deploy Qlink BaseStation supporting LTE-U protocol and POW + POS consensus algorithm mining.
Available on Kucoin
ICO Price: $0.10
Current price: $0.11
Total Supply: 600,000,000 ONLY
Many missed this ICO -
A decentralized global Wi-Fi sharing network. Users can share their spare or idle WiFi and be rewarded with Qlink Token. A decentralized billing system to re-package mobile data and excessive data selling to whoever wants to buy. Especially useful for content distribution on mobile network. A decentralized Enterprises Telecom Service, sucn as SMS / voice / data services on Qlink. Build decentralized telecom infrastructure. Users can deploy Qlink BaseStation supporting LTE-U protocol and POW + POS consensus algorithm mining.
Available on Kucoin
Every SINGLE ICO is not legit - market is full of scammy ICOS, After doing an audit and personally speaking to one of their Community person, we are 100% confident what we are sharing below 👇
It is just 3 people (scammers) ICO - Spread the word to save community 👆
Crypto Trading Signals
We may see BTC bounch back from this point - $6200 Let see! If it drops below $6,000 - It can go down to $5500
Yes, it bounced back - Come on BTC, Show your strength now 😊
Jordan Belford -Wolf of Wall Street #FUDMASTER
is going to release another video today - creating FUD. What he is saying that cryptocurrency is a bubble which has burst 😂😂. LET assume for a minute, he is right (Which he is not) - What happened to Dow Jones stock market index (Which hit 6 years lowest yesterday), WAS it Bubble TOO
What an idot on this planet. We need to request him to do us a BIG favour and HEAD BACK to jail where he has come from. I am sure if you search him, you may find more BTC ON HIM THAN
we are holding collectively in this group.
Cryptocurrency is not going away. STAY Strong - Hold your positions and let this RED cloud pass over the scene. 💪
is going to release another video today - creating FUD. What he is saying that cryptocurrency is a bubble which has burst 😂😂. LET assume for a minute, he is right (Which he is not) - What happened to Dow Jones stock market index (Which hit 6 years lowest yesterday), WAS it Bubble TOO
What an idot on this planet. We need to request him to do us a BIG favour and HEAD BACK to jail where he has come from. I am sure if you search him, you may find more BTC ON HIM THAN
we are holding collectively in this group.
Cryptocurrency is not going away. STAY Strong - Hold your positions and let this RED cloud pass over the scene. 💪
As we all know, today was SEC & CFTC Crypto Currency Meeting With U.S. Senate Committee.
Nothing significant has come out from this meeting regarding CryptoCurrency. They do want to minimize ICOs and related scams which is a positive. Apart from regular discussion, no hard statements have come out.
BTC has started slowly upward movement and market getting green. It will be slow movement and will take some time to regain confidence in market. I congrat to all those who did not do panic sell and also to those who got benefit of this double digit RED market and did a lot of shopping.
Lets move on 🏇
Nothing significant has come out from this meeting regarding CryptoCurrency. They do want to minimize ICOs and related scams which is a positive. Apart from regular discussion, no hard statements have come out.
BTC has started slowly upward movement and market getting green. It will be slow movement and will take some time to regain confidence in market. I congrat to all those who did not do panic sell and also to those who got benefit of this double digit RED market and did a lot of shopping.
Lets move on 🏇