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Chinese authorities can completely ban crypto-currencies

Already, we are talking about the complete closure of the channels for the purchase and sale of crypto-currency in China.

19.Sep.17 4:18 AM
By Abigail Richards


Chinese authorities can completely ban crypto-currencies
It became known that the PRC government wants to completely block the channels for buying and selling crypto currency in China.

According to The Wall Street Journal, September 15, 2017, in Beijing, a closed meeting was held with the participation of representatives of the sector. And, it was at this meeting that it was said that by September 20 all existing crypto-exchange exchanges are obliged to stop all operations and provide the authorities with data about their customers.

And, according to the publication, the next step of the Chinese government could well be blocking access to foreign exchanges. At the same time, the writing reminds that there were earlier assumptions about the fact that the PRC authorities do not intend to take measures concerning platforms that allow trading the crypto currency directly.

Analysts say that in this way the PRC government wants to test the stability of the crypto currency. Also, there are suggestions that in this way the country's authorities want to understand whether it will be possible to decentralize the crypto currency in protection from state intervention.

It should be noted that at the beginning of this month, the People's Bank of China forbade local companies to attract financing through the placement of tokens.

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