[2018/07/11]China is committed to control cryptocurrencies within its territory

[johnine]

Chinese Central Bank Official Pledges ‘Vigilance’ to Stamp Out Foreign ICOs

The People’s Bank of China committee charged with regulating cryptocurrencies recently gathered to discuss the next phase in their plan.

China hasn’t wavered in its commitment to control cryptocurrencies within its territory — the country shocked the world when it announced a ban on all ICOs, deeming them illegal, back in September 2017. Not too long ago, it was announced China was considering blocking access to all websites related to crypto trading or ICOs, both domestic and foreign.


If You Thought China Was Strict Before, Think Again

Gongsheng emphasized the committee would be focusing on bringing down illegal financial activities while building stronger infrastructures to prevent online financial fraud. They will also be conducting on-site inspections and applying administrative penalties to those who don’t comply.

He also addressed those ICOs who were approached by the committee and fled abroad, where they keep their activities active in China. In the near future, the group will be announcing a new method to block these companies from accessing Chinese people.

The group estimates they will succeed in their effort in the next two years, with the first deadline set for June 2019. By then, the committee hopes to have clearly defined standards for blockchain and the online lending space.



Read more here: https://www.ccn.com/chinese-central-bank-official-pledges-vigilance-to-stamp-out-foreign-icos/

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[Slow death]

discuss the next phase in their plan.

these Chinese are very ironic, they destroy the countries of others, they have no respect in the countries of the others, they are dictators, they repress their people, their president has the power of an emperor ... china not interested in fighting ICOs scam , they just do not want democracy, they do not want foreign things, but it's amazing that they steal natural resources from other countries for their country, they do not want freedom for their people. things like ICOs and bitcoin can bring another way for your people to think and this is dangerous for the current Chinese political regime

[monocolor]

Will be very difficult to control due to the cryptocurrency nature. But with state power everything is possible and they can make duplicates, look at what happened with Google, Amazon, Facebook etc, they all have their own copies.

[Spaffin]

It seems that China is seriously preparing to ban crypto currency in its own territory. I'm just wondering whether it will be possible to prohibit decentralized crypto currency in them, or not. And they will come up with something of their own, individual. They also understand that a vacuum with a crypto currency will have to be filled in with something. Otherwise, some prohibitions will be ineffective.