Chinese authorities impose a ban on carrying out crypto events in Guangzhou

Verified
3 months ago
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In China authorities have banned the holding of promotional events dedicated to the crypto industry in the zone of technical and economic development in Guangzhou.

According to the government, these measures are aimed at “maintaining the security and stability of the financial system of the region.”

Such actions indicate a hostile attitude to the crypto industry by the Chinese authorities. Last week a number of local media published information that financial regulators intend to block access to 124 foreign crypto-exchange sites providing services to residents of the country.

Private corporations also joined the tough cryptocurrency policy. For example, the messenger WeChat, developed by the technological giant Tencent, blocked media accounts related to blocking and cryptocurrencies. Also, the search giant Baidu began to censor and ban similar topics on the platform of Baidu Tieba.