Will China Try to Block Access to All Cryptocurrency Exchanges?

There has been a lot of talk about what the Chinese government will do next to try and stop the use of cryptocurrencies to bypass capital controls in China.

 

Recently there hasn’t been any official announcement from the Chinese government. But today sources have posted an unverified notice on social media, that contains plans to block access to all Cryptocurrency exchanges outside China. The notice is directed to the Department of Internet Monitoring and to the Security Center. The overall plan from the notice is to block access to sites like Coinbase, Bitfinex and LocalBitcoins, and to block access to Bitcoin seed addressing. It also calls for the monitoring of mining pools, TOR  and VPNs.

 

Previous bans have resulted in driving customers to different sites and countries like  Japan and South Korea. This ban probably won’t be any different.

Tags: ,